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Gifts of any kind from anyone out of any account is not income and doesn't get reported on an income tax return.
Thank you for the reply. I know it’s not income, but if the gift is above certain amount I do have to report to the IRS correct?
From the IRS:
or
In this case I’m not sure if I have to report Form 3520, since my aunt is sending the gift through her business account. Does this fall into foreign corporation which indicates that I have to report if it’s above $16,076?
You do not need to file a 3520 as you are below the filing requirement.
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