proper reporting

[Corey&Xu]

This past year my wife has wired money to our account in the US. It is not income but I want to be sure to report it properly so that we do not get in any legal trouble.

 

Has anyone been through this and can give some advise? When doing our taxes it asks about foreign accounts and comes up with a form that needs to be sent to the Treasury Department.

 

Thanks,

[a2784]

This past year my wife has wired money to our account in the US. It is not income but I want to be sure to report it properly so that we do not get in any legal trouble.

 

Has anyone been through this and can give some advise? When doing our taxes it asks about foreign accounts and comes up with a form that needs to be sent to the Treasury Department.

 

Thanks,

If you have a foreign account in your name or under your contol you have to report it if at any time during the year the account balance was more than $10,000.