How to appear 100k Gift to invest in RE

[James Smith]

Hello Folks,

I wanted to seek advise from the savvy investors here at Biggerpockets.

My father, who lives overseas, has 100k in US dollars that he would like to give me as a gift for me to invest in Real Estate. My concerns are how do I appear that much money here in the US and will the IRS tax it? What are ways to avoid getting taxed on this gift? Also to avoid the IRS get all up in my business?

Thoughts and recommendations are welcome!!

Thanks

[Account Closed]

The gift to you is not a taxable transaction. Income you earn on any investment of that money will be taxable.

The treatment of the gift for your father will vary by country. Your father may want to find out if his country has a gift tax and what the rules are.