Which leads to the question, is there any kind of tax on money you take out of the country for such a purchase? I recall somebody mentioning such a thing on this board a while back but I don't remember the circumstances.I've read about a tax on taking large amounts (I think over $600K) out of the country being taxable if you are leaving the country forever. It's to prevent someone like Bill Gates or Warren Buffet from living in the US all their lives while racking up giant unrealized cap gains, and then renouncing their citizenship after moving to another country.On a different note, you mention the word cash. Many times when more than $10,000 changes hands in CASH (paper money), it's a reportable event by the receiver. Doesn't mean taxable, but the IRS wants to keep an eye on these things to prevent money laundering and unreported income from cash transactions.WRJ
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<