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I have a short question. When I am a foreign f1 student for
Hello, I have a short question. When I am a foreign f1 student for 4 years and I am more than 183 days in a calendar year within the US but I do not have any income in the US at all, just income from … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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I am receiving a large sum of cash from a foreign relative
I am receiving a large sum of cash from a foreign relative ("gifter"). The gifter is in China, so the CNY to USD conversion limit in China is 50K USD per year. To get around this, I am asking the gift… read more
Lev
Lev
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How much money My parents can wire transfer to me and my wife
How much money My parents can wire transfer to me and my wife in USA from INDIA to consider as a gift.… read more
Tax.appeal.168
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Hello Christopher, I have few questions regarding the article
Hello Christopher, I have few questions regarding the article above and would appreciate your feed back. Currently, I'm scared and confused if I have missed filing a gift tax or did something wrong. 1… read more
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Dear Tax Professional, Is the non-US resident required
Dear Tax Professional, Is the non-US resident required to pay gift taxes if he made a cash gift to US citizen/resident to buy US property like houses? Thank you!… read more
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Hello, A friend of mine is an international student (non
Hello, A friend of mine is an international student (non citizen alien). He lives in California and has a website that generate income from advertising. He has build the website in his home country be… read more
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I am receiving 90,000 USD from a foreign friend as a gift.
I am receiving 90,000 USD from a foreign friend as a gift. From what i read on this site i understood that if it's under 100,000 I don't have to report it. My question is does it matter if the sender … read more
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Hello Christopher! I have a relative abroad whos come into
Hello Christopher! I have a relative abroad who's come into some money. He has it an account outside his country of citizenship, neither of which is the U.S. If he were to gift me 3 million dollars vi… read more
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I am a naturalized US citizen and going to live abroad with
I am a naturalized US citizen and going to live abroad with my parents (non-US citizens). 1. Do I have to pay any US tax on money I receive from my parents while I live abroad? I will keep a bank acco… read more
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International gift - US GIFT TAX Question: My parents (Non
International gift - US GIFT TAX Question: My parents (Non US residents - living abroad, in Europe) would like to make us (me and my wife as US citizens) a gift of about $300K via a wire transfer. Id'… read more
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My parents want to give me $380000. My parents are not US citizens.
My parents want to give me $380000. My parents are not US citizens. They live and work abroad and do not conduct business or own anything in the united states. I am a US citizen. I live and work in th… read more
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is it taxable if you receive money from your father who is
is it taxable if you receive money from your father who is a citizen of another country and living in another country ? I'm expecting at least $ 1,000,000. Do I have to pay tax for that ?… read more
Robin D.
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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
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Hello Brad, I understand from a question you previously
Hello Brad, I understand from a question you previously answered that a US citizen does not pay gift taxes on monetary gift received from a foreign national parent (European nationality, not living in… read more
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Is wire-transferred money from non-US acct. to U.S. acct. su
My wife is a resident alien and her mother has visited the U.S. several times and stayed less than three months each time. She does not have a SSN/ITIN and has no asset except a joint bank account wit… read more
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I have an H1B visa. My parents citizens of a foreign ...
I have an H1B visa. My parents are citizens of a foreign country and reside there. If they wire me approximately $200,000 in gift funds that I will use to purchase a primary residence in Pennsylvania,… read more
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Attention Christopher Phelps CPA Follow-up question
Dear Mr.Phelps, In your answer to "International Money Gift Tax question" that can be found at http://tax.justanswer.com/tax/1e5d-international-money-gift-tax-question you indicate that "They would on… read more
MequonCPA
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If both parents are not either U.S. Citizen or Permanent ...
If both parents are not either U.S. Citizen or Permanent Resident who want to give money to their son and son in law with U.S. PR. How much the parents can give to them? Does it taxable for parents an… read more
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