What is the tax implication if my dad is sending money to me here in US as a family maintenance? Do I have to pay tax on that money and how much will that be?
Asked
Active
Viewed 762 times
1 Answers
3
As the funds are Gift received from your parents, and your tax residency is US, as per US gift tax, there is no tax due from you for these funds.
Dheer
- 57,348
- 18
- 89
- 170