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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 42304
Experience:  Texas lawyer for 30 years in Estate law
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My status is a permanent resident of the United States and

Customer Question

Hi. My status is a permanent resident of the United States and my father is a non-resident alien. Would there be any tax imposed for each side if he wires me a certain amount of money (say, 400,000 USD) as a gift? Thank you.
Submitted: 2 years ago.
Category: Estate Law
Expert:  RayAnswers replied 2 years ago.

Hi and welcome to JA. I am Ray and will be the expert helping you today.

No the federal gift limit lifetime for 2015 is $5,430,000.Any gifts under this amount are not taxed.This would not b e a taxable event here in MA for you.There are no gift taxes here in MA here.This should not be a problem here.

I appreciate the chance to help you tonight.Please let me know if you have more follow up.Thanks again.


Expert:  RayAnswers replied 2 years ago.

If you can leave a positive rating it is always much appreciated.