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May 3, 2025
Question

Transfer money from foreign bank account

  • May 3, 2025
  • 1 reply
  • 0 views

If I transfer money from a foreign investment bank account to a us bank account do I need to pay taxes? Fbar and everything is declared. Also, am I subject for state tax in Connecticut?

    1 reply

    May 6, 2025

    Moving your own money from one account to another is never taxable, even if one of the accounts is foreign.