Panthera001
Oct 29, 2008, 08:25 AM
Hello,
I reside in the US, but not a resident/citizen. My mother wired me money from overseas (she is non US resident) for purchase of a car. I purchased the car for her by using up the whole amount she wired.
Are there any tax implications for me? I heard that if more than 10K is wired to a US account, IRS may flag that transaction.
If I keep all the documentation for the car purchase (bill of sale, bill of lading etc), do I need to worry about anything?
I reside in the US, but not a resident/citizen. My mother wired me money from overseas (she is non US resident) for purchase of a car. I purchased the car for her by using up the whole amount she wired.
Are there any tax implications for me? I heard that if more than 10K is wired to a US account, IRS may flag that transaction.
If I keep all the documentation for the car purchase (bill of sale, bill of lading etc), do I need to worry about anything?