Bringing Assets into the US of A
#1
Bringing Assets into the US of A
Hi all,
Do the US authorities impose any forms of tax on personal financial assets brought into the country for the purposes of establishing residence? I am American and my husband British and the money we will be bringing in will be from his savings and the sale of his property in the UK. We are both living in the UK at the moment but anticipate relocating in about 6-9 months time once he obtains a spouse visa.
Are there any good resources/websites with information on this type of thing?
Many thanks,
Tara.
Do the US authorities impose any forms of tax on personal financial assets brought into the country for the purposes of establishing residence? I am American and my husband British and the money we will be bringing in will be from his savings and the sale of his property in the UK. We are both living in the UK at the moment but anticipate relocating in about 6-9 months time once he obtains a spouse visa.
Are there any good resources/websites with information on this type of thing?
Many thanks,
Tara.
#2
Re: Bringing Assets into the US of A
Depends on if he's liquidised his assets before he becomes a LPR, if he's an LPR when he sells his gaff, then it could be taxed, though the IRS are quite generous with there limits, so check the IRS website out.
And a search of this forum might help, similar things have been asked before...
And a search of this forum might help, similar things have been asked before...
#3
Re: Bringing Assets into the US of A
Originally Posted by Bob
Depends on if he's liquidised his assets before he becomes a LPR, if he's an LPR when he sells his gaff, then it could be taxed, though the IRS are quite generous with there limits, so check the IRS website out.
And a search of this forum might help, similar things have been asked before...
And a search of this forum might help, similar things have been asked before...
Bob, thanks. This is probably a silly question, but does he become an LPR when he is obtains his visa - or the day he actually enters the USA at a POE? I gather he has six months to enter the USA once a visa is obtained and he should be able to sell up etc within this time. Tara.
#4
Re: Bringing Assets into the US of A
Originally Posted by possom
Bob, thanks. This is probably a silly question, but does he become an LPR when he is obtains his visa - or the day he actually enters the USA at a POE? .....