You don't need to file a Form 1040 if you have no taxable...

Do I just need to mail a 3520 form to IRS and that's it?

I have no income last year, but I did receive more than 100,000 foreign gift to pay my tuition and other stuff. I do not need to file a tax return right?

posted

You don't need to file a Form 1040 if you have no taxable income for 2016. You can prepare and mail in Form 3520 without a tax return (TurboTax does not prepare this form). Please keep in mind that only US citizens or resident aliens must file this form. Please follow these links for Form 3520 and the instructions. https://www.irs.gov/pub/irs-pdf/f3520.pdf

https://www.irs.gov/pub/irs-pdf/i3520.pdf