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  • Jan 19, 2013, 01:45 PM
    DADDYUNDICH
    Taxes
    I want to make invest $250.000 from my taxed inheritance money in Germany. Am I going to be taxed in the US when wireing the money?
  • Jan 19, 2013, 02:18 PM
    AtlantaTaxExpert
    No, there are NO transfer raxes in the United States.

    However, you may have to file Form 3520 to report the amount and nature of the transfer.
  • Jan 19, 2013, 02:26 PM
    DADDYUNDICH
    Thank you so much.
  • Jan 20, 2013, 01:32 AM
    AtlantaTaxExpert
    Glad to help!
  • Jan 22, 2013, 04:12 AM
    MukatA
    If you are a U.S. citizen or resident, you may need to file Form TD F 90-22.1 and/or 8938 Specified foreign financial assets (SFFA). Your U.S. Tax Return: U.S. Citizen or Resident with Foreign Income
  • Jan 22, 2013, 01:31 PM
    AtlantaTaxExpert
    Agree that FBAR is needed.

    Not sure about Form 8938. Need more info.

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