A transfer of funds from my overseas bank account

[lesson0]

I am a US resident alien, and I own a foreign bank account. I read in an earlier post that A transfer of funds from your personal bank account to your personal bank account is Not income. In other words, if I transfer $20,000 to my account, it won't be my income. Is that right? So can I put some of that money into my IRA account?

[VolvoGirl]

You can contribute to a IRA if you have earned income from W2 wages or a Net Profit from self employment income.  You can only contribute up to your earned income.  It doesn't matter where or how you make the contribution.

See IRS Pub 590-A IRA Contributions

https://www.irs.gov/pub/irs-pdf/p590a.pdf

[TaxandtheCurious]

Generally, you will not pay tax if you are just transferring funds from one of your accounts to another of your accounts, assuming that these funds are after-tax funds that you have already paid tax on (i.e. wages, business profits, etc.) If these are funds from inheritance, gifts, capital gains, etc. then it could be reportable/taxable. 

Keep in mind that a US person that has a financial interest or signature authority in a foreign financial account with an aggregate value of foreign accounts exceeding $10,000 at anytime during the calendar year must also file an FBAR.