Is gift money income?

[orchard]

Hi, My mother in Korea wants to send me $50,000 for gift money. I am a US citizen and my mother is a Korean national. If I receive the money, will I have to include it to 2021 income tax filing? Does that gift money increase my AGI?

[DoninGA]

A gift received is not entered on your tax return, regardless of the amount received.

You do not have to report the gift received to the IRS if the gift received from a non-resident foreign individual is $100,000 or less.

[macuser_22]

No.  Gifts are not reported on an income tax return.

A foreign gift that exceeds $100,000 must be reported on a 3520 form.

https://www.irs.gov/pub/irs-pdf/f3520.pdf

[tagteam]

You would only have to file Form 3520 if you received more than $100,000 from your mother.

See https://www.irs.gov/instructions/i3520#idm140547364644208

The gift would not be reported (and of course not taxable) on your individual income tax return (Form 1040).

[AR_CPA2]

That is correct as replied by DoninGA