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DADDYUNDICH
Jan 19, 2013, 01:45 PM
I want to make invest $250.000 from my taxed inheritance money in Germany. Am I going to be taxed in the US when wireing the money?

AtlantaTaxExpert
Jan 19, 2013, 02:18 PM
No, there are NO transfer raxes in the United States.

However, you may have to file Form 3520 to report the amount and nature of the transfer.

DADDYUNDICH
Jan 19, 2013, 02:26 PM
Thank you so much.

AtlantaTaxExpert
Jan 20, 2013, 01:32 AM
Glad to help!

MukatA
Jan 22, 2013, 04:12 AM
If you are a U.S. citizen or resident, you may need to file Form TD F 90-22.1 and/or 8938 Specified foreign financial assets (SFFA). Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income (http://taxipay.blogspot.com/2008/03/us-citizen-or-resident-with-foreign.html)

AtlantaTaxExpert
Jan 22, 2013, 01:31 PM
Agree that FBAR is needed.

Not sure about Form 8938. Need more info.