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Gift taxes from non US citizen spouse?
I am a permanent resident of the US since Jan. 2011. I don't have any funds on my american bank account, my life expenses are covered by my european bankaccount(credit card).
My wife is a US Citizen, we are legally married here, she is working in the US and does the regular taxreports every march. I have around 12.000 in cash from constant winnings in casino gambling under my pillow. My question is: Can I give that 12.000 to my wife as a gift, without paying taxes to the IRS or filing forms? How does the fact that I first have to deposit the money into my bankaccount affect the situation here? Does my wife have to answer any questions to the IRS, If they ever want to review her bank account? Your help is highly appreciated, thank you very much! Thomas |
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Thomas:
Your gambling winnings are taxable income. You can offset the taxes by itemizing and claiming your gambling losses on Schedule A, up to the amount you have won in 2012. Your losses for the year MAY completely offset the winnings. If your foreign bank accounts overseas exceed $10,000, you must submit the FBAR (Foreign Bank Account Report) using Form TD-F 90-22.1. It appears to me that you are attempting to EVADE paying taxes on your gambling winnings. That is TAX FRAUD, something this forum cannot help you with. |
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