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Money gift from a non-US person

My mother, who is a non-US person living in Bulgaria, wants to gift me, a US citizen, USD 60,000 via bank transfer.

I can't figure out the tax situation.

Based on this, I conclude that no one pays any taxes and I won't even need to include this amount into my income taxes:

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However, based on this, I conclude that my mother will need to pay gift tax:
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(But I can't interpret the table to to figure out the rate).

Can anyone please help? Thank you,

David

Reply to
DK
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Your mother is not a US citizen, nor is she living here. She would not be subject to a gift tax from the IRS. She needs to check with the Bulgaria tax authority. You do not even need to report a sub $100K gift from abroad. See

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I believe the article you linked is older than current tax code.

Reply to
JoeTaxpayer

Since your mother is not a US citizen, gift tax would only apply if the money she sends you is located in the US at the time she makes the gift. In other words if she has a bank account in the US and makes the gift from those funds, the gift tax will apply. Otherwise it won't.

Joe is correct that you don't normally need to report gifts from abroad of up to $100,000 (that's the total gifts over the course of a year). However if the gift came from the account of a corporation or partnership, it has to be reported (IRS Form 3520) if it's more than about $16,000. This is just a report - no tax will be due.

Gifts are almost never subject to income tax. So that should not be an issue.

Reply to
Stuart O. Bronstein

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