camilog137
Returning Member

How does bringing money from savings abroad affect my taxable income?

Hello,

 

Thank you in advance for your help with this!

 

I am planning to transfer my savings abroad (more than $10,000 USD) to my national bank account in the US. Will I need to pay taxes on this transference? Or in other words, is this considered taxable income? Where and how should it be declared?