International Wire Transfer as Non Resident Alien

[absrk]

Hello! I currently live in the US and am on my F1 student visa. I have been living here since August 2018 and have been paying/filing taxes every year since, as a Non-Resident Alien (filing form 1040 NR). I wanted to transfer $20,000 from my personal checking account in the US to my father's personal bank account in the United Arab Emirates. 
I was wondering if and what the tax implications would be. Is this something I need to report?

Thanks for any help provided.

[DaveF1006]

Yes, you will need a file a gift tax return because the amount is over $16,000, which is the threshold for Gift Tax Returns. Turbo Tax does not handled gift tax returns but please refer to this IRS site for further information on how to file.  

There is no reporting requirement you need to make in your own personal tax return 1040 NR. 

[absrk]

Thanks so much for the information. 

I believe I will have to file Form 709 right? When I am filing my taxes next year.

To confirm I am just reporting the 20,000$. But I will not be taxed on it right? Since I do not pay gift tax unless I exceeded the lifetime gift cap of $12+ million?

[AliciaP1]

Yes, you will file a Form 709 by the April tax filing due date, but it does not get sent in with your Form 1040NR.  You can find the information on the most up-to-date version of the Form 709 here.

The annual exclusion for 2022 is $16,000 and for 2023 is $17,000.  So, you will owe tax on the $3,000 in excess of the exclusion for 2023.  The Basic Exclusion (or lifetime cap in your words) means that you lose any annual exclusion once your gifts have exceeded the Basic Exclusion.  

@absrk