[jrobinson3006]

Hi All,
I am an American citizen who is married to a Swiss citizen. We were married in Switzerland and we have been living in Switzerland since the time of our marriage. We will be moving to the U.S. and we will be paying cash for a small house. I will be going two months before my wife to purchase the home and have everything set up for her and our children. I would like to know what is the best and safest way to purchase the home and transfer money to the U.S. to minimize any taxes.

The money is currently in a Swiss bank account in only her name but once in the U.S. I will need to have access to buy the home, furniture, appliances etc. Is it better to set up a separate account in my name and make transfers as needed or set up an account in both our names or what?? Is it safe to purchase the house directly from the Swiss Account? Should I use escrow or how??

Thanks in advance.

[AtlantaTaxExpert]

There is NO tax for transferring the money. If the amount transferred via wire exceeds $100,000, you will need to file Form 3520 to report the transfer and explain the money's sources, but no tax will be due, as there is NO gift taxes between spouses.