My father ( in China ) will give me equivalent of US$20000 cash as a gift, how can I bring back cash to USA without paying tax ?

[Opus 17]

Gifts are not taxable income to the recipient in the US.  I don't know if there are gift taxes under Chinese law.  You do not need to report foreign gifts to the IRS unless the amount received from foreign corporations is more than $14,000 or the amount received from foreign persons is more than $100,000.

You may run into difficulty if you are trying to bring a large amount of cash.  It may need to be declared to customs and border protection, although it is not taxable income.  You may want to contact US customs and border protection before your trip if you want to bring cash.  Otherwise, it should be perfectly acceptable to do a wire transfer from your or your father's China bank account to your US bank account.

[tmrleung]

Thanks Opus !  Do I need a declaration or some document signed by my father as a proof of gift,  if I bring cash in, or transfer from my own China bank account ? ( It is not convenient for my father to go to the bank ).  Also, if I have to deposit the $20,000 cash into my US bank account here ( say Chase ), is it legal or would I have to complete another form.  Thank you so much !

[gfusman2]

Do you know what the law is in China for giving cash gifts to people in the US? Did your father have to pay taxes on the gift in China?