I would like to wire transfer money from my bank account in Europe to my account in US. Do i have to pay additional taxes besides the wire transfer fee?
2007-07-28 10:15:54 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
I sold a property in Europe, and I paid sale taxes on the transaction. I just want to make sure that if I wire transfer the money, i dont have to pay IRS additional taxes on the amount!
2007-07-29 05:53:59 · update #1
The sending bank may charge a transfer fee and the receiving bank may charge a transfer fee.
Any Taxes are dependent on your country of residence, occupation status and tax status and are not for the bank to enforce.
2007-07-28 11:07:41 · answer #1 · answered by angie 5 · 0⤊ 1⤋
Transferring money between accounts, and even between countries, is not, in itself, a taxable event under US law.
2007-07-28 20:46:21 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋