Tax advice please
#1
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Joined: Mar 2003
Posts: 1
Tax advice please
Hi,
I entered the US in April of last year on a K1 fiance visa, we married in May last year. I brought over some money from the UK and, after marrying, placed some funds into a joint account ($10,000) and into a personal ($5,000) account for myself, as well as "gifting" $5,000 to my wife's account.
Can anyone advise me on whether or not the money I brought over with me is taxable in the US as the information I have is rather sketchy. We tried to email the IRS for their advice but received no reply.
Thanks in advance,
Graham
I entered the US in April of last year on a K1 fiance visa, we married in May last year. I brought over some money from the UK and, after marrying, placed some funds into a joint account ($10,000) and into a personal ($5,000) account for myself, as well as "gifting" $5,000 to my wife's account.
Can anyone advise me on whether or not the money I brought over with me is taxable in the US as the information I have is rather sketchy. We tried to email the IRS for their advice but received no reply.
Thanks in advance,
Graham
#2
Re: Tax advice please
Originally posted by gmcnicol
...... Can anyone advise me on whether or not the money I brought over with me is taxable in the US ....
...... Can anyone advise me on whether or not the money I brought over with me is taxable in the US ....
If you sold something (property, investments etc.) that you owned in the UK after you had emigrated to the US then you may have tax to pay on any profits - but then you'd be best advised to speak to a tax accountant knowledgable about such things.