$$ Gift from US Expat to Canadian wife
Moderator: Mark T Serbinski CA CPA
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$$ Gift from US Expat to Canadian wife
I see my husband can gift me up to $152000 US (2018). This money would just sit in the bank in Canada (for now), I realize that in Canada there is no benefit to this gift due to the attribution rule BUT would he also have to report the income in the USA? Do they have a similar rule, I cannot find any info on this? I am basically trying to get our funds off the USA radar and simplify reporting. tks
Re: $$ Gift from US Expat to Canadian wife
No. The gift makes it your money, your income for US purposes.
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing