bringing money to the US
#1
Guest
Posts: n/a
bringing money to the US
I know similar questions were posted here, but I didn't find difinite
answer.
My dad has sold his property in Iran and wants to bring the money to
the states.
1) he is worried of tax to be paid on let's say 100K? Does he have to
pay tax on it and how much would that be?
2) he is looking for a reasonable transfer of money from Iran,
considering there is no American Bank branch in Iran.
Can anyone help please?
answer.
My dad has sold his property in Iran and wants to bring the money to
the states.
1) he is worried of tax to be paid on let's say 100K? Does he have to
pay tax on it and how much would that be?
2) he is looking for a reasonable transfer of money from Iran,
considering there is no American Bank branch in Iran.
Can anyone help please?
#2
Re: bringing money to the US
He can bring it all in in cash if he wants to .... BUT it must be declared upon entry.....
#3
Re: bringing money to the US
Originally Posted by Meh
1) he is worried of tax to be paid on let's say 100K? Does he have to
pay tax on it and how much would that be?
pay tax on it and how much would that be?
2) he is looking for a reasonable transfer of money from Iran,
considering there is no American Bank branch in Iran.
considering there is no American Bank branch in Iran.
Best Wishes,
Rene
#4
Guest
Posts: n/a
Re: bringing money to the US
Just be ready to prove that the money comes from a legitimate source
and has nothing to do with terrorism.
Such an amount coming from Iran has between a 95 % chance (wire
transfer) and a 99.999% (cash) of being investigated.
Cash will look very suspicious, you'll have an hard time convincing the
IRS, FBI whoever that it comes from a legitimate source if you opt for
cash.
A bank transfer doesn't have to be originated from a US bank ; foreign
banks have contacts with US banks ...
meh wrote:
> I know similar questions were posted here, but I didn't find difinite
> answer.
> My dad has sold his property in Iran and wants to bring the money to
> the states.
> 1) he is worried of tax to be paid on let's say 100K? Does he have to
> pay tax on it and how much would that be?
> 2) he is looking for a reasonable transfer of money from Iran,
> considering there is no American Bank branch in Iran.
>
> Can anyone help please?
and has nothing to do with terrorism.
Such an amount coming from Iran has between a 95 % chance (wire
transfer) and a 99.999% (cash) of being investigated.
Cash will look very suspicious, you'll have an hard time convincing the
IRS, FBI whoever that it comes from a legitimate source if you opt for
cash.
A bank transfer doesn't have to be originated from a US bank ; foreign
banks have contacts with US banks ...
meh wrote:
> I know similar questions were posted here, but I didn't find difinite
> answer.
> My dad has sold his property in Iran and wants to bring the money to
> the states.
> 1) he is worried of tax to be paid on let's say 100K? Does he have to
> pay tax on it and how much would that be?
> 2) he is looking for a reasonable transfer of money from Iran,
> considering there is no American Bank branch in Iran.
>
> Can anyone help please?