Serbinski Accounting Firms

[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...

[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,...

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 the...