transferring money from abroad

03-27-2008, 08:30 AM

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Join Date: Mar 2008

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transferring money from abroad

What is the name of your state? New York

not sure if this or the estate forum is more applicable.

I am foreign citizen (russia) attending school in NYS. My grandma would like to give me a gift, in cash, resulting from the proceeds of the sale of her apartment. all applicable russian taxes will be paid (zero on both the sale and the gift)

The money would be transferred from her bank account in russia to my bank account in NY.

what are the applicable US taxes here? do I have to show this amount on my tax return at all? should I first put the money into my bank account in Russia, then transfer to myself?

Last edited by anatoly; 03-27-2008 at 08:37 AM. Reason: more questions

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