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uxk8396
New Member

If I transfer money from my foreign bank account of amount $100,000 to my bank account in the US do I have to declare this amount on my 1040 form?

Mode of transfer can be by T.T or by depositing a bank draft. Is that money subject to taxes in any form?

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3 Replies

If I transfer money from my foreign bank account of amount $100,000 to my bank account in the US do I have to declare this amount on my 1040 form?

And .... what is your income tax related  question ?

If I transfer money from my foreign bank account of amount $100,000 to my bank account in the US do I have to declare this amount on my 1040 form?

If it is not income then it is not reported on an income tax return ... so if you are just moving money from one account to another you have nothing to report on an income tax return.  The bank may have paperwork for you to sign.

If I transfer money from my foreign bank account of amount $100,000 to my bank account in the US do I have to declare this amount on my 1040 form?

The bank will report the transaction but if it is money being moved between accounts you own, there are no tax issues or reporting.

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