Cash gift from visiting relative

[Zigner]

My relative gave me cash in March 2021, and my parents sent $9000 in January 2021 and I deposited both as soon as I receive each of them. It is possible the bank noticed the total sum is more than $10,000 as I am using a small local bank here.

It's guaranteed that they know you deposited more than $10k. What's unknown is whether or not they reported it to the IRS. You could always ask them.

My parents sent me $9,000 cash by Fedex although FedEx does not accept cash, will it create any further issue to me?

No, it will not create any further issues for you. Just tell them not to do it again because it's a really dumb thing to do.

 

[huaiwin]

One more item I forgot to specify here; when my relative was coming to US, my sister in Taiwan gave her $1,000 to give (pass on to) me as gift and my sister has given a hand written and signed letter also along with that $1,000. I deposited that $1,000 also in the bank quickly and I scanned that letter and have a scanned copy (I could not find the original now). Is it allowed to send gift like that using a relative (and is it legal for me to receive a gift like that), in terms of IRS? Scanned letter is OK for IRS?

I have no more deposits or gifts except for these three incidents.

 

[Zigner]

One more item I forgot to specify here; when my relative was coming to US, my sister in Taiwan gave her $1,000 to give (pass on to) me as gift and my sister has given a hand written and signed letter also along with that $1,000. I deposited that $1,000 also in the bank quickly and I scanned that letter and have a scanned copy (I could not find the original now). Is it allowed to send gift like that using a relative (and is it legal for me to receive a gift like that), in terms of IRS? Scanned letter is OK for IRS?

I have no more deposits or gifts except for these three incidents.

Just hold on to it in case you need it later. Go forward with your life and stop thinking about it so much.

 

[davew9128]

Just hold on to it in case you need it later. Go forward with your life and stop thinking about it so much.

It's just so much entertainment watching people stress over such ridiculous things.

 

[LdiJ]

One more item I forgot to specify here; when my relative was coming to US, my sister in Taiwan gave her $1,000 to give (pass on to) me as gift and my sister has given a hand written and signed letter also along with that $1,000. I deposited that $1,000 also in the bank quickly and I scanned that letter and have a scanned copy (I could not find the original now). Is it allowed to send gift like that using a relative (and is it legal for me to receive a gift like that), in terms of IRS? Scanned letter is OK for IRS?

I have no more deposits or gifts except for these three incidents.

Once again, there is nothing illegal about receiving gifts, even if they come to you by a third party. The only possible issue about receiving gifts in cash is that the IRS might and only might, question you about the source of the gifts. They would not be questioning you because the gifts were potentially illegal. They would be questioning you about whether or not the gifts could be considered taxable income.

In other words. The IRS does not care how much cash you receive in gifts. They just want to make sure that you didn't actually earn the money doing work for someone, and therefore should be paying tax on it.

There is another exception which does not apply to you. There is a special form that needs to be filed by anyone if they receive gifts from foreign sources above a certain level. I think that the level is $100,000 but it could be a bit higher. The purpose of that is to allow the government to track potential terrorist/criminal activity.

 

[huaiwin]

If you don’t mind, could you provide if a letter from my relative(s) is enough, or an email is enough, or some other form of confirmation is needed (for example, my parents are ready to send another signed letter now, with two witnesses signatures on that letter, for that $9000. Same is true with my sister also for that $1000 and she is ready to send whatever letter or email is needed). Also, what should be the content of such letter or email or document (the donor’s name, address in Taiwan, age, relationship to me, how much cash the donor gave/sent to me, and when he/she sent, is enough?). I am so concerned. I want to get all necessary documents and put this behind, and fully focus on my studies.

 

[Zigner]

Are you trolling us?

 

[huaiwin]

I am so sorry if my emails look trolling. I withdraw my email in that situation. I am sorry one more time.

 

[davew9128]

Perhaps if you provide a digitally signed authenticated, notarized and medallion guarantee stamped email provided by the President, Pope, Captain America, AND your relative, IRS would accept it.

 

[huaiwin]

I too enjoyed your joke! However, as an international student on Visa, I need to keep my record clean. If anything happens, I need to leave my studies and go back. That is the reason why I am extra concerned.

 

[davew9128]

Paranoid. The word you're searching for is paranoid.

 

[Just Blue]

Paranoid. The word you're searching for is paranoid.

OP is perhaps a bit paranoid, but as a foreigner attending University here I can understand why s/he might be extra cautious.

 

[davew9128]

OP is perhaps a bit paranoid, but as a foreigner attending University here I can understand why s/he might be extra cautious.

I don't. Tens of thousands of students from outside the US study here every year. I promise you, the gifting thing happens with the majority of them. It's not unique and not a big deal.

 

[LdiJ]

It also may be that the OP keeps asking the same questions over and over again due to English being his second language. He may not fully be understanding our answers.