Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   IRS laws on money tranfer taxes (https://www.askmehelpdesk.com/showthread.php?t=462899)

  • Apr 6, 2010, 08:46 AM
    mp8470
    IRS laws on money tranfer taxes
    My sister in england wants to lend me money to buy a house in this country.
    What the tax implications regarding this matter?
    And also what is the best way(s) to transfer the money from england?
  • May 6, 2010, 01:21 PM
    AtlantaTaxExpert
    There are NO tax implications.

    You WILL need to report the transfer using Form 3520, but that is done to simply track the money. No tax will be due.

  • All times are GMT -7. The time now is 08:52 PM.