Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Wire transfer from abroad to US (https://www.askmehelpdesk.com/showthread.php?t=526119)

  • Nov 15, 2010, 11:43 AM
    snrpd
    Wire transfer from abroad to US
    I want to purchase propery in US and my dad (who lives in another country) wants to help by sending me some money (assuming 50K to 100K). How can I go about achieving this
  • Nov 15, 2010, 05:18 PM
    AtlantaTaxExpert
    Just do a wire transfer between your father's bank and your U.S. bank.

    You MAY have to submit Form 3520 to identify the source of the funds, but no taxes will be due from the U.S. side of the transaction.
  • Oct 17, 2011, 09:18 PM
    financeknowhow
    Hi AtlantaTaxExpert,

    What about the fund transfer from a third party from my dad to US to buy house.
  • Oct 18, 2011, 06:26 AM
    AtlantaTaxExpert
    Again, not taxes will be due, assuming your father is a non-resident alien.

  • All times are GMT -7. The time now is 07:13 PM.