[quote="mdmorris"]On the USA side, Form 3520 to report foreign gifts over 100k received from a nonresident individual. If you bring it over the border on your person (not wire transfer) and it is over 10k then you need Fincen 105 for the CBP. I think thats it.
Side note about the 14k. This is the ...
Search found 3 matches
- Sat Oct 14, 2017 8:07 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Receiving a gift from parents across the border
- Replies: 4
- Views: 3727
- Sat Oct 14, 2017 5:31 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Receiving a gift from parents across the border
- Replies: 4
- Views: 3727
Re: Receiving a gift from parents across the border
[quote="fred2028"]I currently live and work in the US on a TN status and my parents are in Canada. We are all Canadian citizens. Are there any taxes or limits on the amount of cash my parents can gift me?
I looked online, seems Canada has no gift tax. The IRS website is a bit more cryptic, but it ...
I looked online, seems Canada has no gift tax. The IRS website is a bit more cryptic, but it ...
- Sat Oct 14, 2017 5:30 pm
- Forum: Canada / United States Tax & Accounting
- Topic: Receiving a gift from parents across the border
- Replies: 4
- Views: 3727
Receiving a gift from parents across the border
I currently live and work in the US on a TN status and my parents are in Canada. We are all Canadian citizens. Are there any taxes or limits on the amount of cash my parents can gift me?
I looked online, seems Canada has no gift tax. The IRS website is a bit more cryptic, but it seems to suggest ...
I looked online, seems Canada has no gift tax. The IRS website is a bit more cryptic, but it seems to suggest ...