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USTaxAdvising
USTaxAdvising, CPA
Category: Tax
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Experience:  US Taxation specialist.
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if I got a money gift from a foreign friend, do I have to pay

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if I got a money gift from a foreign friend, do I have to pay a tax on it?

No, the recipient of a gift is never liable for gift taxes regardless of the source (foreign or domestic).

 

Since the funds were from a foreign source you may have a Form 3520 filing requirement if the amount was in excess of 100K.

 

Let me know if you have any further questions.

 

Best regards,

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