Dear all, please advise. I just got my immigrant visa (February 2013) and planning to fly to US to open a bank account apply for SSN, receive my Green Card and return to my home country. After that I plan to sell all my property in home country and transfer the amount from the sale together with my savings for many years to my newly opened US account. I assume that since all these amounts generated before I became GC holder they are not taxable, Am I right?
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Tax rules for new comers
- Thread starter arikgh
- Start date
TheRealCanadian
Volunteer Moderator
You would be liable for capital gains, not the whole amount.
Probably better to sell before you enter the US, if there are significant capital gains.
Probably better to sell before you enter the US, if there are significant capital gains.
You would be liable for capital gains, not the whole amount.
Probably better to sell before you enter the US, if there are significant capital gains.
The thing is, in order to bring money over I need to open a bank account in the US and to do that I need to come before I can make a transfer (I cannot open bank account in US from distance, besides I need to apply for SSN on spot). So it's kind of chicken or egg situation.
By the way, can you please explain what is capital gain? Many thanks.
tax question- new immigrant wife owes taxes
I married my girlfriend of 5 yrs in Sept 2012. I am a US citizen and she had arrived here in the US from Czech Republic in 2004. We are using an immigration attorney now and in the middle of the process of getting her green card (our appointment with immigration for the interview is in a month). In 2012 she had no income and I had worked full time. We filed taxes as married filing jointly and recieved a CP42 notice from the IRS stating that they are keeping the return because my wife had worked in 2004 as a houskeeper but did not file taxes. She earned about $14000 and was given a 1099 form and apparently never filed. She does have a tax ID #. Now I have the choice of filing an injured spouse form with IRS or re-filing as single. Any ideas on the best way to go with this process?
I married my girlfriend of 5 yrs in Sept 2012. I am a US citizen and she had arrived here in the US from Czech Republic in 2004. We are using an immigration attorney now and in the middle of the process of getting her green card (our appointment with immigration for the interview is in a month). In 2012 she had no income and I had worked full time. We filed taxes as married filing jointly and recieved a CP42 notice from the IRS stating that they are keeping the return because my wife had worked in 2004 as a houskeeper but did not file taxes. She earned about $14000 and was given a 1099 form and apparently never filed. She does have a tax ID #. Now I have the choice of filing an injured spouse form with IRS or re-filing as single. Any ideas on the best way to go with this process?
Property Selling Price - purchase price = capital gainThe thing is, in order to bring money over I need to open a bank account in the US and to do that I need to come before I can make a transfer (I cannot open bank account in US from distance, besides I need to apply for SSN on spot). So it's kind of chicken or egg situation.
By the way, can you please explain what is capital gain? Many thanks.