Hi, do I have to pay tax on money wire transferred from abroad if I have proof that this money was transferred by me from US bank to Foreign bank?

[l543123]

Also do I have to pay tax if my dad from India sends money to me as gift?

[bine22 · Accepted solution]

There is no tax on the transfer per se. But a citizen&permanent resident&resident alien has to report worldwide income, so if you earned that money before transferring, the earning would be taxable.

A gift is not taxable to you.

Depending on the amount and the origin you might have to file form 3520 https://www.irs.gov/uac/about-form-3520

[l543123]

Thanks for the reply. But if this income is my own salary money which I transferred abroad and getting it back now. Is that still taxable? Kind of like double taxed? For example I earned $10000 salary and already paid tax. Transferred this money to Indian rupees. After a year, getting it back in US$. Do I have to pay tax on the $10000 again.

[bine22]

If you already paid taxes on your income in the US then you do not need to again. You pay taxes on your income the year earned.

[l543123]

great, thanks!

[peachlips16]

It depends on the amount