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-   -   New green card holder (https://www.askmehelpdesk.com/showthread.php?t=655441)

  • Apr 28, 2012, 09:05 PM
    sbehrooz
    New green card holder
    Hi
    I am a new permanent resident I got my green card in October 2011 I sold my home and my other assets in my country and want to to transfer the money to U.S (the money is still in my home land country).
    1- If I receive that money is it taxable or not? (I mean the IRS get tax from my money)
    2- should I declare that money in my 2011 tax or not ?if yes what is the form no.
  • Apr 28, 2012, 09:28 PM
    AtlantaTaxExpert
    The transfer of the money is NOT taxable, as there are NO transfer taxes in the United States.
  • Apr 29, 2012, 03:11 AM
    MukatA
    For 2011 you are dual status. If you worldwide income during Oct 11 to Dec 11 exceeds the filing requirements ($3700), you must file U.S. tax return. If you sold your home after Oct 11, the gain from the sale is taxable in U.S.
    There is no tax involved in transferring money from your country to U.S.
    If during Oct 11 to Dec 11, you had more than $10,000 in foreign accounts, you need to file form TD F 90-22.1. . http://taxipay.blogspot.com/2008/03/...h-foreign.html

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