Any Tax Exemptions if already in the US?

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NoMoreNC

Registered Users (C)
Hi All,

I sponsored my parents to get their green card last year when they were here visiting me in the US. Their status was adjusted from visitor to green card in 3 months in Nov 2007. They are still here staying with me. Now, they are planning to go back to our home country, Hong Kong to sell their house and move to the US with me. They are planning to ship their furnitures and other personal properties & belongings to the US with a container. My questions are:

1. Do they get any tax exemptions on the belongings that they are shipping to the US?

2. What's the best way to ship their belongings to the US?

Thank you in advance and sorry if this has been answered before as I couldn't find a similar question with the search.
 
1. Personal belongings (not commercial goods) shipped into the US generally are not taxed by the US, so there is unlikely to be any need for exemptions. However, some things may be banned like various plants and pets. Search the US Customs web site.

2. "Best" depends on how much is being shipped, which cities they are being shipped from and to, whether you need door-to-door service or will pick up the stuff at the port yourself, the reputation of the shipper, etc. You'll have to do your own research with the various shipping companies and decide which is best for your specific situation.
 
Remember, too that as Green Card holders, they are now liable for all income earned worldwide.

This would include reporting the sale of their house in HK and any other property. They may get some tax relief if there is a tax treaty with HK, and they may be eligible for residence gains exclusion -- but since the sale occurs after they got GC it is subject to IRS tax (and likely state tax as well).
 
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