Ask Experts Questions for FREE Help !
Ask
    taxhelp81's Avatar
    taxhelp81 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Feb 9, 2012, 12:01 PM
    Money sent overseas
    I am an alien resident working on h-1.


    I did transferred around $30k overseas to my parents for their medical expenses and also paying my educational loan. Do I need to report to IRS.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 10, 2012, 01:30 AM
    If that money went to a foreign bank account under your name and that account had more than $10,000 in it at ANY time in 2011, you will need to submit the FBAR.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

What's the best way to wire money overseas? [ 0 Answers ]

I am a non-US citizen that used to live in the US. I have a bank account since then and there's 1000K+ in the account. I would like to wire the full amount to my own account in Greece, where now I reside, but What is the best way considering the exchange rate, transaction fee (and tax? )? ...

Bringing money in from overseas [ 12 Answers ]

Hello Everyone If I were to make some money overseas in a cash deal (real estate, about 100K or so), how would I bring it back to the US and pay taxes on it? Would I just put the money in an account there and then wire it over, and claim the money as income on my return for that year? Is it as...

Overseas money transfer [ 3 Answers ]

My wife is a British citizen and would like to wire transfer some ($80K) money from her UK account to US bank account. What does she owe the IRS? Are there any forms I need to file with IRS? She is a resident alien and we file jointly for tax purposes.

What to do with 401K money from Overseas [ 1 Answers ]

I have closed my 401K plan in Australia and have a cheque to be deposited (Australian Dollars) What (If any) are the Tax implications for me here in the US :confused: Should I just place it in a CD, Savings account, Cheque account etc I am permanent legal resident of the US and all my...

View more questions Search