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Get your taxes done using TurboTax
@4150SABALRIDGE , assuming you are US citizen/Resident/Resident for tax purposes, the bringing of monies from a foreign account is not a taxable event. However two points to note ---- (a) if the amounts sat in a foreign account that you own then both FBAR ( form 114 at BSA-Efiling or FinCen.gov ) and FATCA ( form 8938 along with your return ) filings may be required. ; (b) if the monies came as gift to you then to the extent the total amount ( no matter where deposited ) is equal or over US$100,000, you may have to file a form 3520.
Does this help or do you need more on how to file these forms etc. ?
‎February 19, 2021
1:43 PM