Log in

View Full Version : Sending money to usa from sale of property


bobgdollt
Oct 14, 2010, 01:05 PM

tickle
Oct 14, 2010, 01:18 PM
Are you sending it to someone else, or to your own bank? Arrange a money transfer to either establishment; bank to bank. I get a feeling there is more to this question then asked. Are you inquiring about taxes as well ? You will have to spell it out to get a complete answer, if this is the case.

Tick

bobgdollt
Oct 14, 2010, 03:17 PM
I'm sending it bank to bank, for myself, would there be any tax indications ? Should I take checks back to the us ?

tickle
Oct 14, 2010, 03:39 PM
There are tax treaties US has with different countries. No, if you are sending the money to your own bank account in the US, you would use the cheques from the bank you are sending it too. You can check on Google which countries are exempt by entering 'tax treaties with US. I don't know the implications for tax time though.

Tick

bobgdollt
Oct 14, 2010, 04:16 PM
The money is from the sale of a house, my profit would be about 100,000 grand, the last time I made a large deposit ( in a check 50,000 ) the bank said as long as it was not cash nothing had to be done, that's why I thought a check from the foreign bank would be better, actually several checks. I'll check with the bank tomorrow, thank for all your help... BOB