money transfer
I want to buy a house and my parents want to send me money to pay for half of it ($200,000). They live in Romania, however I am a Greencard holder and currently reside in US. How can they send me this money so it won't be taxable?''
1 Answer from Attorneys
Re: money transfer
If this country, "gift tax" is an obligation that is paid by the person GIVING the gift, not the one receiving it. However, if the person giving the gift is not subject to U.S. Gift tax (not a resident or citizen of the U.S.), it is possible that the person receiving it may be subject to some gift tax.
There are ways to structure such a transaction so that it is subject to the least possible amount of tax, but you need to speak to someone about it. They will need to base their advice on a thorough understand of everything related to the transaction.
Good luck to you. Let me know if I can assist you.
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