When we were closing a home, my bank agent had to transfer (260 K) from my wife's bank account to my bank account and then send the combined amount as a single wire transfer to my escrow.
My question, both myself and my wife are not US citizens but are on work visas and US residents (pass the substantial presence test).We file the taxes jointly.
Can someone please let me know if we would incur any tax on the bank transfer from my wife's account to my bank account?
