Skip to content
Personal Finance

User Stats

28
Posts
3
Votes
Martingale Kim
3
Votes |
28
Posts

Gift tax from foreign parents

Martingale Kim
Posted Oct 21 2022, 17:59

my parents in law want to give us $60,000.

i know there's a $16,000 gift tax limit. 

so to qualify this limit, does my parents-in-law need to wire me and my wife respectively 4 times at $15,000 each time?

what will be the form to file it in my federal and MD tax return if it is needed?

Loading replies...