Hi @MarilynG1 and thank you again!
My parents are US citizens but it sounds like that dont matter based on what you said. I actually saw there is a lifetime 11 million allowance before anything will be taxed. That’s interesting!
The reason we are looking into this is because parents are moving back to the US and they are concerned about bringing money here and getting taxed by the government.
if we decide to wire, it most likely will be from a foreign bank, in that case i guess we will just have to file FBAR and still not concerned about tax.
I have been telling them there is no tax for bringing their own money in, whether US bank or foreign bank. again, they are being paranoid lol.
