Bel-D
May 18, 2009, 12:19 PM
I am a US citizen and would like to transfer money from a foreign account into a US-based account. The money in question is my savings, in the amount of approximately $50,000.
It seems the easiest way to transfer the funds is via a wire transfer, but I've read posts that indicate the money may be subject to US tax?
Is there paperwork I could file to make sure the money is not taxed as income?
Thank you in advance for your advice.
It seems the easiest way to transfer the funds is via a wire transfer, but I've read posts that indicate the money may be subject to US tax?
Is there paperwork I could file to make sure the money is not taxed as income?
Thank you in advance for your advice.