Tax consequences on foreign wire transfer

kokosy Posts: 3, Reputation: 1

New Member

Aug 1, 2011, 03:43 PM

Tax consequences on foreign wire transfer

Brother-in-law plans to repay money loaned to him (to buy a home) by wiring $100,000 from foreign country. Any tax consequences. I have inquired at my 2 banks and they both said that they do not have to file a report to IRS about receiving this money.

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