Bluesview
19 Jun 2013
USA, Canada / Is the money I transferred from the USA to my Polish wife (in Poland) taxable? [2]
I sold a home in the USA before I moved to Poland this year to live with my wife. I transferred (wired bank to bank) this money to my wife's Polish bank account so it would be more available when I was ready to buy a home in Poland. I didn't want to open a separate bank account here and couldn't be added to my wife's bank account because I wasn't a permanent resident at the time. So... this money wasn't a gift to her. Do I need to report these deposits to the tax office (value over 125,000 USD)? And will I be taxed on this?
From what I've been told by the tax office is that if we report these deposits within 6 months to them there will be no tax. I hope this is true.
FYI - I transferred the money via wire from bank to bank. It cost me $40 USD per transfer and there was a limit of $25,000 USD per transfer. There was a small transfer fee on the Polish end also. Maybe 20 zloty, not much though.
I sold a home in the USA before I moved to Poland this year to live with my wife. I transferred (wired bank to bank) this money to my wife's Polish bank account so it would be more available when I was ready to buy a home in Poland. I didn't want to open a separate bank account here and couldn't be added to my wife's bank account because I wasn't a permanent resident at the time. So... this money wasn't a gift to her. Do I need to report these deposits to the tax office (value over 125,000 USD)? And will I be taxed on this?
From what I've been told by the tax office is that if we report these deposits within 6 months to them there will be no tax. I hope this is true.
FYI - I transferred the money via wire from bank to bank. It cost me $40 USD per transfer and there was a limit of $25,000 USD per transfer. There was a small transfer fee on the Polish end also. Maybe 20 zloty, not much though.