Discussion:Gifted $3 million from abroad
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Discussion Forum Index --> Tax Questions --> Gifted $3 million from abroad
| 20 February 2006 | |
| I will be gifted $3 million from Europe from someone with no United States connection. Am I save to assume that there are no tax conscequences here in the United States since gift and inheritance taxes are paid by the person that gifts? Is there an informational return that I might to file just to report it?
Thanks! Peter | |
| 20 February 2006 | |
| No idea. Don't expend that amount in one place
It looks to me that you are right- bye | |
| 20 February 2006 | |
| Form 3520 is required in this instance.
In addition if the funds were drawn on a U.S. bank account, Form 709 is required. | |
| 20 February 2006 | |
| Here's a link to Form 3520: | |
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