$25.00 
Learn more
Submitted By: Syed
Answered: October 15, 2013 8:30 am
Answered: October 15, 2013 8:30 am
I received gifts from relatives living outside the United States. Do I have to pay tax on the gifts?
No. Gifts are not taxed to the recipient, regardless of amount or whether they are from people in or outside the United States. If you make gifts, you need to check on whether you must pay any gift tax (not income tax) and/or whether you have to file a gift tax return, Form 709.
advertisement
Featured Books
Tax Glossary
Adjusted gross income (AGI)
Gross income less allowable adjustments, such as IRA, alimony, and Keogh deductions. AGI determines whether various tax benefits are phased out, such as personal exemptions, itemized deductions, and the rental loss allowance and modified adjusted gross income (MAGI).
