1. no tax, 2. a loan is better

First, Gift from a foreign person does not need to pay gift tax, ever. However, gift from a foreign person above $100,000 need to be reported to IRS via Form 3520. Failure to report might result in penalties.

See: http://www.irs.gov/Businesses/Gifts-from-Foreign-Person

Second, a better solution, to avoid reporting requirement and future divorce issues, it is recommended this money is a loan from your parents to you. All you need to do is to google "promissory note California" and download a form and fill in your name (borrower), your parent's name (lender), and 0% interest. In that case, your parents gift to you is 0% interest, Let's say market interest is 4%, your parent's gift to you is annually $4000 on a $100,000 loan).

This way, you don't have IRS reporting requirement, and in the future the money will be your parents (and yours) regardless your marriage situation, or in case that you die before your parents and your wife without a will.

Consult a lawyer on these issues is worthwhile, esp. combine this issue with the wills of your parents for a complete solution.

所有跟帖： 

• good advice. -laoyangdelp- ♀ (0 bytes) () 10/20/2014 postreply 10:39:46

• 高见！ -naive2- ♀ (0 bytes) () 10/20/2014 postreply 11:37:29

• 学习了，谢谢 -cherryhill- ♀ (0 bytes) () 10/20/2014 postreply 11:57:35

• 刚和一个CPA谈了，他也是建议要做loan。 谢谢您的专业建议！文学城有您这样的专业又热心的人真好！再次，也谢谢这里的各位。 -非比- ♀ (0 bytes) () 10/20/2014 postreply 14:21:33

• 若作为loan， 严格说来，父母百年只后，不追究的债务按法律会做为ordinary income来交税。 如果那时被查， 会不会 -肥牛- ♀ (0 bytes) () 10/20/2014 postreply 15:14:35

• 不追究的债务按法律会做为继承 -lexm5- ♂ (485 bytes) () 10/20/2014 postreply 15:18:57

• 谢谢 -肥牛- ♀ (0 bytes) () 10/20/2014 postreply 15:27:49

• 谢谢lexm5，非常好的建议！ -金z- ♀ (0 bytes) () 10/20/2014 postreply 19:27:51