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Level 2
December 16, 2019
Solved

Form 3520 for large cash gift from foreign parents

  • December 16, 2019
  • 1 reply
  • 23 views

Can I generate and file Form 3520 using Intuit ProConnect?  I need to complete this for an individual that received a gift of cash, >$100k US, from their parent who is not a US person/resident.  This gift is held in a foreign bank account, and that account will be disclosed on the FBAR.

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Best answer by itonewbie

No, F.3520 is not supported by PTO.

If your client lives in the US, F.8938 would also be required.

1 reply

itonewbie
itonewbieAnswer
Level 15
December 16, 2019

No, F.3520 is not supported by PTO.

If your client lives in the US, F.8938 would also be required.

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roger2Author
Level 2
December 16, 2019
Thank you for your help.