gift from a foreign person

回答: 美国买房付款的问题。 谢谢!Yangzijiang2014-05-06 05:32:10

For gift from a foreign person, there is no gift tax, but you need to report it, see http://www.irs.gov/Businesses/Gifts-from-Foreign-Person

What you should have done many years ago, was to have a loan agreement signed by your family member saying there was a loan.  Only then you can claim this payment as repayment of loan instead of a gift (no need to report).  The loan agreement would have been very simple, just say who, when, how much, term of interest etc.  

I would not suggest you to make one now and "back date" it to many years ago.  That is forgery.  You can write a loan agreement now and dated as today's date.  To prove this loan was made, you'd better find the fund transfer evidence years ago when you mail the fund to your family member.  And the number must MATCH EXACTLY as principle and interest listed in the loan agreement and the repayment, otherwise IRS might think it is a fake.

So for the reason stated above, it is easier you just file a IRS form claiming it is a gift.  There is no gift tax anyway.  Never be vague with IRS affairs.


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Thanks. One more question -Yangzijiang- 给 Yangzijiang 发送悄悄话 (165 bytes) () 05/06/2014 postreply 05:49:47

Thanks, I read the information, would you -Yangzijiang- 给 Yangzijiang 发送悄悄话 (700 bytes) () 05/06/2014 postreply 06:07:19

回复:Thanks, I read the information, would you -lexm5- 给 lexm5 发送悄悄话 (541 bytes) () 05/06/2014 postreply 06:16:58

I see, I got it, another question here -Yangzijiang- 给 Yangzijiang 发送悄悄话 (370 bytes) () 05/06/2014 postreply 06:29:53

No report for $100,000 or less -lexm5- 给 lexm5 发送悄悄话 (162 bytes) () 05/06/2014 postreply 06:33:35

Thanks. So it is for each transactions or person? -Yangzijiang- 给 Yangzijiang 发送悄悄话 (147 bytes) () 05/06/2014 postreply 06:36:10

Don't be a stupid smart ass. -lexm5- 给 lexm5 发送悄悄话 (633 bytes) () 05/06/2014 postreply 06:42:08

You should not be that rude -Yangzijiang- 给 Yangzijiang 发送悄悄话 (287 bytes) () 05/06/2014 postreply 07:17:32

A few posts ago you mentioned two $99,990 transactions -lexm5- 给 lexm5 发送悄悄话 (241 bytes) () 05/06/2014 postreply 07:28:30

回复:A few posts ago you mentioned two $99,990 transactions -bluey- 给 bluey 发送悄悄话 bluey 的博客首页 (150 bytes) () 05/07/2014 postreply 00:26:21

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