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husband10
New Member

Tax question - Parent in India, wants to pay my home loan, directly to lender Wire Transfer

Hi all. 

 

Nobody answered this question here imo (as everyone considered if a person paying off money to your mortgage company, to pay off principal amount, is USA based). 

 

My question is simple: let's say My father living in India (aka non-USA person) wants to send $100k worth of money as "Wire transfer" directly to my mortgage company (i.e. to their wire account) to pay off my  home loan (providing my loan#, address, etc info ATTN: principal curtailment). 

 

Do I have to report Taxes in USA, in this case?

-- I never got the money to my checking/saving account. 

-- He is not in USA, Indian citizen. 

 

THANKS

 

 

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1 Reply
KrisD15
Expert Alumni

Tax question - Parent in India, wants to pay my home loan, directly to lender Wire Transfer

Gifts do not generate taxes for the person that gets the gift.

You would need to file Form 3520 

This form is not to pay tax on the amount, only to report it. 

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