If I transfer money from my country to US is it taxable?

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If I transfer money from my country to US is it taxable?

I`m a citizen of another country but a permanent resident here. I have a bank account back there and I`d like to transfer money to buy real estate. Do I need to pay taxes here?

2006-07-11 13:38:00 · 2 answers · asked by bira 1 in Business & Finance ➔ Taxes ➔ United States

2 answers

No taxes, but some fee for the bank, and depending on the amount be prepare to justify the reason.

2006-07-11 13:45:55 · answer #1 · answered by ande 2 · 0⤊ 0⤋

Simply moving the money into the US is not a taxable transaction. Purchasing real estate probably is.

2006-07-11 20:50:22 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋