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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Hello, My sister is planning on selling her apartment in

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My sister is planning on selling her apartment in Russia for around $75,000, which she will pay a 13% tax on. After the taxes come out, whatever is the difference, she will send the money to me as a gift. I currently reside in the United States with a temporary status (under a DACA). I'm not a citizen, but I do have SSN and was wondering if I'll need to pay taxes on the money I receive and what percentage?
Thank you for your time and your response would be greatly appreciate it.


MyVirtualCPA :

Thanks for asking your question! I'm sorry to hear about your tax issue and I'm going to try my best to help you understand or resolve it.

MyVirtualCPA :

How are you today, Yana?

MyVirtualCPA :

As you are a resident of the United States, you are taxed the same way a citizen is.

MyVirtualCPA :

Gifts are never taxable to the recipient, and your sister has no tax obligation to the US so there is no gift tax return even filed

MyVirtualCPA :

Also, since the amount you are receiving is below $100,000 there is no need to file form 3520 to report the gift

MyVirtualCPA :

There is absolutely no tax, state or federal

MyVirtualCPA :

Please let me know if you need anything additional. If not, please rate my response "excellent" so that I may receive credit for assisting you today

Customer: Will I have to prove that this money is a gift?
MyVirtualCPA :

Typically no - but a statement from your sister would be enough to prove that it is a gifrt

MyVirtualCPA :


Customer: Will indeed to alert irs that I'm getting this gift money even though there willbe no tax taken out?
MyVirtualCPA :

No, since the amount is under $100,000

Customer: Sounds good to me, thank you for your time
MyVirtualCPA :

You're welcome. If you would, please rate my response as "excellent" so that I may receive credit for assisting you today

Megan C and other Tax Specialists are ready to help you

I see where we got disconnected in chat. I believe we have covered the items you needed assistance with. If you have follow up questions, please reply below. Otherwise, please take a moment to rate my response as "excellent" so that I may receive credit for assisting you today. Thanks again.
Customer: replied 4 years ago.
Ok, I will, thank you!
You're welcome! Have a great day!
Thanks, Yana for rating my answer. It is greatly appreciated. Please come back and visit me any time you need a tax, finance, or social security question answered. It was a pleasure working with you today!