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If I sell a property in a foreign country and wire the money
If I sell a property in a foreign country and wire the money to my bank account in US, do I have report to IRS and pay tax. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,000 satisfied customers
My mom was living in China. She died in 2012 and left her
Hello -- My mom was living in China. She died in 2012 and left her apartment to 3 of us (my brother, sister and I). No one lives in that apartment since then. Due to her second marriage and some dispu… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,000 satisfied customers
I have a couple of questions about renting a house to my
Hi, I have a couple of questions about renting a house to my parents: I am currently renting an apartment but I would like to buy a house and rent it to my parents. Here are my questions. 1. Assuming … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,659 satisfied customers
My mom is an alien. She loaned us some money (money
My mom is an alien. She loaned us some money (money available at a bank sound in us since she wired them out two years ago) to buy an investment house and will forget the loan next year for 60k each f… read more
Barbara
Barbara
Enrolled Agent, Paralegal
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Merlo, My wife is a NRA and I am a US citizen. We are
Hi Merlo, My wife is a NRA and I am a US citizen. We are currently residing overseas but plan to move back stateside next year. My wife has overseas savings of over 1m USD and our plan is to use a par… read more
Barbara
Barbara
Enrolled Agent, Paralegal
6,000 satisfied customers
I have recently received my permanent residency and social
I have recently received my permanent residency and social security number. However, I haven't update my social security number at my bank and my mother will wire me some money to purchase an apartmen… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
Dear Merlo, I was reading your previous thread and am wondering
Dear Merlo, I was reading your previous thread and am wondering how your previous answers regarding foreign money transfer and gift tax may apply for my wife and I. Neither of us are US citizens, I am… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I have been working in an international organization with a
I have been working in an international organization with a G4 Visa From May 2005 to December 2010 as staff and between January 2011 and December 2012 as a full time consultant THEREFORE am considered… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
what if receive an inheritance of 16000 dollars wired from
what if receive an inheritance of 16000 dollars wired from a foreign account into a my US account, should i report it in the ITR?… read more
abci168
abci168
Principal
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I am an Indian citizen and a Green Card Holder U.S. Resident
I am an Indian citizen and a Green Card Holder U.S. Resident who lives in a rented apartment in USA . I own one apartment in India . Does it need to show in my US Income Tax Return ?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
18,659 satisfied customers
I have a sister who died had a company in a foreign country
I have a sister who died had a company in a foreign country that was sold in that country. The proceeds from that sale I inherited and the proceeds are being dispensed from a bank in the country. What… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I have considerable amount of savings in an overseas account.
I have considerable amount of savings in an overseas account. I don't work and this was a gift from a friend who deposited this money into my overseas bank account. Now I want to wire this money from … read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
This isnt really an estate. I am about to be named as co-benefactor
This isn't really an estate. I am about to be named as co-benefactor to an inheritance worth $8.5 million dollars. This inheritance was left by my fiance's late father. The total inheritance is to ini… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Are international wire transfers reported to the IRS?
How do I avoid paying tax if I will receive $100,000 from overseas? I receive this money because my parents want to give it to me to help me get a house in the U.S. I know bank will notify IRS if ther… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
I am a U.S. citizen. I recently sold a piece of real estate
I am a U.S. citizen. I recently sold a piece of real estate I owned in the Republic of Serbia (where my mother was living). The money from the sale of the property will be deposited in a bank in Serbi… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
My aunt gifts me property overseas, (I am a US citizen, she
My aunt gifts me property overseas, (I am a US citizen, she is not in any form) do I have to report the property as a gift or does it count as property owned overseas which isn't a reportable act UNTI… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
Hi there, I am a Green Card holder as of now and might
Hi there, I am a "Green Card" holder as of now and might receive Citizenship by March 2009. I have Tax questions as follows: My parents who reside in foreign country wants to gift me. They want to tra… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
Transfering money from overseas account from an undeclared ad-hoc tran
I have money sitting in my sister's overseas account ( she's not a US citizen), proceed is from a property sale from abroad. It's over a $100K. Can I transfer it to my own US account w/o paying any ta… read more
Zhicheng Lai
Zhicheng Lai
Master Degree
426 satisfied customers
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