I'm a currently living in the United States
under a H1-B visa (I'm from Argentina). The company I work for is currently in the process of renewing the visa as well as starting the paperwork for my green card.
My dad (also from Argentina) wants to make a gift to me in the form
of money. The idea would be for him to transfer me money from his bank account to mine (mine is actually a joint account with my wife)
My dad's account is under a US
Bank (NY Mellon) and I know he files a W8-BEN every 3 years.
The questions I have are the following:
1) How much money will my dad be able to gift me?
2) Will I have to pay taxes
3) Will I have to file some sort of tax form (even if there is no tax to pay for this)
I've read some information about this matter but I'm not able to determine wether my dad's gift will be treated as foreign
(cause he's not a US resident) or as local
(cause the bank account is already under us soil)
Please let me know if you need any extra information from me to be able to determine this.