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Old 02-26-2004, 04:52 PM
A.G. Kalman
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Default Re: transfer of money

Shahzad wrote:

- quote -

> My question relates to the tax implications of transfer to
> my wife.
> I'm a UK citizen and my wife is a US citizen. We are based
> in London.
> I have recently sold some London property and have paid any
> capital gains tax required by UK law.
> My question is basically what is the best, least taxable way
> to transfer this money over to the States in preparation for
> a move back.
> I am currently a non-resident alien.


Assuming you have not made a joint election with your spouse
to be treated as a US resident alien so that you could file
a married joint tax return in the US, your gain on the sale
of the property is not US source income and is not subject
to US income tax. If you want to know how you can transfer
your funds from Bank A in the UK to Bank B in the US, you
can arrange for either Bank A or Bank B to handle the
transfer. There are no income tax consequences of the
transfer.

--
Alan
http://taxtopics.net

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  #-1  
Old 02-25-2004, 03:05 PM
Shahzad
Guest
 
Posts: n/a
Default transfer of money

My question relates to the tax implications of transfer to
my wife.

I'm a UK citizen and my wife is a US citizen. We are based
in London.

I have recently sold some London property and have paid any
capital gains tax required by UK law.

My question is basically what is the best, least taxable way
to transfer this money over to the States in preparation for
a move back.

I am currently a non-resident alien.

Many thanks.

<< -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << ------------------------------------------------->
 

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