International Wire

[elizabethI]

Hello,

I live in LA, CA and I am an international student. I will be getting my green card in 3 months and I was wondering how to claim the money which my family sends me from Europe. It is not much money (up to $10 000). If it is Western Union I always keep the receipts they give me, but in case it is a bank wire I don't have any paper trail. This is the one thing that I am concerned about, because I have been told that the IRS eventually would require you to have a paper trail of every deposit in your account.
Also are those money taxable? I would assume they are not, as they have been taxed already in my home contry?

Thank you!

 

[LdiJ]

Hello,

I live in LA, CA and I am an international student. I will be getting my green card in 3 months and I was wondering how to claim the money which my family sends me from Europe. It is not much money (up to $10 000). If it is Western Union I always keep the receipts they give me, but in case it is a bank wire I don't have any paper trail. This is the one thing that I am concerned about, because I have been told that the IRS eventually would require you to have a paper trail of every deposit in your account.
Also are those money taxable? I would assume they are not, as they have been taxed already in my home contry?

Thank you!

You do not need to track that money for tax purposes. Nor does the IRS require you to have a paper trail of every deposit in your account.