Hi Everyone!!Imagine the following scenario........Your parents...

  1. BenGrahamReborn
    12,606 Posts.
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    01/09/20
    17:20
    Post #: 46996911
    Hi Everyone!!

    Imagine the following scenario........
    Your parents (or in laws or whatever) sell their farm in rural China and want to give you a 400k gift through Western Union......
    1. Do you declare that in your tax return?????
    2. Do you pay tax on it?

    Cheers
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    lightbulb Created with Sketch.  Great analysis
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