Message Font: Serif | Sans-Serif
No. of Recommendations: 0
i am a U.S. resident. i recently have a baby girl and my mom came from taiwan to help me take care of her. she is not a U.S. resident. she wants to open saving/checking accounts with first union bank here and wire some of her money (around $30,000) from taiwan. since she may go back to taiwan for couple of weeks then come back here in the future, she wants me to open a joint account with her so that i can take care of her money if she is back in taiwan.

my question is : will i be taxed for the money of her in the joint account? if the answer is yes, is there a way to avoid the tax? thank you!
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.