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Updated about 2 years ago,
Gift tax from foreign parents
my parents in law want to give us $60,000.
i know there's a $16,000 gift tax limit.
so to qualify this limit, does my parents-in-law need to wire me and my wife respectively 4 times at $15,000 each time?
what will be the form to file it in my federal and MD tax return if it is needed?