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Hamdy ELgallad

Are savings before getting green card taxable?

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Filed: F-3 Visa Country: Egypt
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I will transfer money from my homeland to USA to start my immigration journey. 
I am wondering whether this money will be taxable or not.

How to prove that this money were my savings before getting the green card?

 

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Filed: K-1 Visa Country: Wales
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No

 

They will have been in your Egyption account.

“If you know the enemy and know yourself, you need not fear the result of a hundred battles. If you know yourself but not the enemy, for every victory gained you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.”

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1 hour ago, Hamdy ELgallad said:

I will transfer money from my homeland to USA to start my immigration journey. 
I am wondering whether this money will be taxable or not.

How to prove that this money were my savings before getting the green card?

 

Next year, when you report taxes, you will have to list this account if it had over 10000 USD in it at any point since you became a LPR. It's going to be reportable if has 10K or more but not necessarily taxable.

Edited by OldUser
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Filed: F-3 Visa Country: Egypt
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Posted (edited)
2 hours ago, Boiler said:

No

 

They will have been in your Egyption account.

So I have to proof that from my Egypt bank statement 

Edited by Hamdy ELgallad
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