Tax implications for receiving gift from sibling in India

[jackkgan]

Hi there, I very much appreciate your advice regarding below:

My brother in India wants to send me a gift of 100k.

1) Is there any tax implication for me to receive this amount? Should I be declaring anything?

2) Is there a limit of the amount I can receive as a gift from my sibling in another country?

3) Would there be any tax implications or declarations for my brother in India?

Thank you!

[MaryK4 · Accepted solution]

1. Gifts are not taxable income to you.  For gifts from a nonresident alien, you are required to report the receipt of such gifts only if the aggregate amount received from that nonresident alien exceeds $100,000 during the taxable year. If the gifts exceed $100,000, you must separately identify each gift in excess of $5,000.  You must file Form 3520 separately from your income tax return.

2. There is no limit but see #1 for the filing requirement.

3. If your brother is a nonresident alien, he would not have a U.S. filing requirement as the person gifting,