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If a resident in Florida receives a gift from a relative who…

If a resident in...

If a resident in Florida receives a gift from a relative who lives outside the USA, is the person in Florida liable for any tax? Is the donor, who is a non-resident, liable for any tax?

Accountant's Assistant: The Accountant will know how to help. Is there anything else important you think the Accountant should know?

The gift is from a mother to her daughter

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Answered in 5 minutes by:
3/10/2018
Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,648
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
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Inheritances and gifts received from non US residents are not taxable to the recipients in the US.

If the gift or inheritance is over $100,000 then the recipient will need to complete an informational return to the IRS.

Q: Is the donor, who is a non-resident, liable for any tax?

A: The donor is not liable tax, merely for sending a US tax payer a gift from overseas.

Please let me know if this has answered your question or if you have any additional questions.

When you have no further questions a positive rating of 5 stars is much appreciated.

Thank you!

Chad EA, CDFA®, CFP®
Chad EA, CDFA®, CFP®, CERTIFIED FINANCIAL PLANNER ®, Professional
Category: Tax
Satisfied Customers: 2,648
Experience: IRS Licensed Enrolled Agent, CDFA ® CFP ®, MBA
Verified
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