Gift expected from abroad

[Catherine]

Reporting requirements, tax implications -- of receiving sizable (but size unknown!) gifts from relatives abroad.

Where do I even *begin* to look for this info?

Not asking folks to research for me, just asking for a pointer. Brain-fried today.

Catherine

[Lynn EA USTCP in Louisiana]

Catherine - try this (google search - U S citizen receiving foreign gifts). Hope this helps.

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

Lynn

[kcjenkins]

and http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Frequently-Asked-Questions-on-Gift-Taxes

[Catherine]

Many thanks to you both!