How A US Citizen Reports gifts from a foreign person and distributions from a foreign trust
Generally gifts received from a foreign person that do not include any US assets are not taxable in the US. Also, distributions from a foreign non grantor trust that do no contain US assets would generally not be taxable either. See the above links for more references.
In either case, Form 3520 needs to be filed to report the receipt of gifts from foreign persons as well as distributions from foreign trusts.
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Check out James’ top recommended videos here - these are cornerstone videos that should answer many of your questions.
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How to Legally Pay NO US Taxes - [ Ссылка ]
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-----And don’t forget to check out all of the “CALLS WITH JIM”
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Do you want to learn how to open and operate a Tax Free Company in the USA even if you live outside the US and don’t have a visa.
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