@nalicak , having gone through your post, the situation as I understand is as follows:
(a) you a US citizen ( for US tax purposes, your dual citizenship is ignored) is purchasing a capital asset -- a condo -- in Thailand , with post tax dollars
(b) you are a resident of California
(c) you are married to a US citizen and you file as Married Filing Joint ( yes? )
Now the question is whether the property is to be held in your own name or in the name of a relative ( brother ).
1. If you send the monies directly to the dealer/promoter, then this is not a gift -- a personal expense and the asset so acquired would be community property ( part of your estate ) and therefore, absent a clear/legal agreement to the contrary, would be 50% owned by your spouse. You should consult a lawyer on this as to the best way to proceed -- depending on your longer term plans. In such a case , if and when , you dispose of the property, there would be capital gain to consider -- for tax purposes
2. if you choose to instead have the property registered , in your brother's name, the monies transferred , whether directly transferred to builder's/ promoter's bank account or that of your brother, would still be a gift to him. This would mean -- (a) you have to file a gift tax form and the gift would count towards your lifetime estate tax free amount ; (b) no tax impact today or in the future if and when you dispose of the property; (c) not community property and hence not part of your estate -- not part of your will/last testament. Again suggest consulting a lawyer.
Actual transfer of the amount will result in a SAR ( by the bank routinely) but no impact and/or action for you except in the case when the monies rests in a foreign bank account that you own/control/have signature authority over for FBAR /FATCA reporting-- again no tax impact.
Does this make sense, answer your query ?
pk
