what is the amount of money that can be gifted by non us citizen?

[fireflip]

What is the name of your state (only U.S. law)? Arizona

My wife and I are US citizens, we both have family overseas (non US citizens) who want to gift us money. The amount is substantial about 50k to 80K,

1. is there any tax liability on my end?
2. is there a limit on the amount they can gift?
3. if there is a maximum, is that per calendar year?

would greatly appreiciate any information.

 

[LdiJ]

What is the name of your state (only U.S. law)? Arizona

My wife and I are US citizens, we both have family overseas (non US citizens) who want to gift us money. The amount is substantial about 50k to 80K,

1. is there any tax liability on my end?
2. is there a limit on the amount they can gift?
3. if there is a maximum, is that per calendar year?

would greatly appreiciate any information.

No, there is no tax liability on your end.

No, there is no limit on the amount that they can gift you (although anything over 105k in a single year requires that you report it, for homeland security purposes.