Does ProConnect generate Form 3520, Certain Foreign Trust Reporting Requirements, to report gifts from non-residents aliens for 2020 Tax Year?

[hyunmoo-lee]

An US individual received gifts (more than $100K) from non-resident aliens during 2020. Currently, the gifts money is in a bank under the US jurisdiction.

[itonewbie]

It's not available in PTO.  We use CCH Intelliforms to prepare these.

You can always refer to the following website for form availability in Lacerte/PTO:

https://lfs.intuit.com/

[puravidapto]

Yes, it is indeed not available on PTO, but it should not be difficult to make it available. If you make a request in the idea board (the link is in my signature), I will vote for it.

By the way, when someone answered your question, you should mark it as an answer.

[itonewbie · Accepted solution]

Intuit has just made an announcement that fill-in forms will be available in PTO starting Feb.  It's just not clear whether all forms not currently included with computation will be included.  Guess we'll need to wait and see.

F.3520 is a dummy form that has to be filed separately on paper anyway.  So, I'm not too worried.  Of course, it's still best if we can have all the forms in one place under PTO.

[Jaye]

Hello,

So, if my client is receiving more than $100,000 a year,

Do I have to fill out the form 3520 and send just that form to IRS by mail separately while all other forms are efiled??