Is there tax in the US for gift money received from parents in India?



There are different versions of what is allowed and not allowed and the law floating around on the websites. What is tax liability of receiving USD100K or 200K from parents in India to US. Has anyone had any experience that you can share please?

Is there tax in the US for gift money received from parents in India?
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2 Replies to “Is there tax in the US for gift money received from parents in India?”

  1. While there is no tax, there IS a required report.

    You MUST submit IRS form 3520 showing the gift when it’s $ 100,000 or more.


  2. no, in the US, gifts are not taxable to the recipient
    you will have to see what effect the taxes in India will apply to your parent’s gift





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