Originally Posted by
AtlantaTaxExpert
MukatA is right about the FBAR and Form 8938 (FATCA) requirements which I failed to mention.
Thank you for the replies.
One more question:
Do non US citizens (say US permanent residents) also have to declare sale of foreign property? Or does the rule only apply to US citizens?
Because in my mom's case, the house is joint with my sister who is not a US citizen, she's a US permanent resident.
I guess one more question comes to mind then:
Can my sister deposit the $100,000 in the US with no tax consequences?
Again, thank you for all the good advice!
- CF