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Gifts of Money From A Foreign Person To His Us Child Or Us Spouse

by Hal J. Webb
Cantor & Webb P.A. - Miami Office

November 19, 2013

Previously published by Cayman Financial Review

Non-resident aliens of the United States frequently make gifts of money to a child or spouse who is a citizen or resident of the United States (hereinafter referred to as a “US child” or “US spouse”), but few of those non-resident aliens fully understand the United States federal gift tax and income tax issues associated with making gifts to a US child or US spouse. In fact, many of them unintentionally make taxable gifts or unknowingly convert what would have been a tax-free gift to taxable income.


The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance.

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