roger2
Level 1

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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itonewbie
Level 15

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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Still an AllStar

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roger2
Level 1
Thank you for your help.
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itonewbie
Level 15
Glad to be of help.
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Still an AllStar
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Anonymous
Not applicable

Then how do we report this on PTO?

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itonewbie
Level 15

You can't.  You will need to prepare that outside of PTO.

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Still an AllStar
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Just-Lisa-Now-
Level 15
Level 15

I had to do one of these multiple years ago, I believe the 3520 is mailed in separate from the tax return, so you can get the form from anywhere and fill it out.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪