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A hypothetical tax question:

Let's suppose you're a U.S. citizen living abroad for many years. Your wife is a citizen of the foreign country you live in. She is a "non-U.S. person"
You both keep separate bank accounts. As a U.S. citizen, you are obliged to file a U.S. tax return each year and send an FBAR for any amount over $10,000 in your own account in the foreign country.

Now, let's suppose one day your wife wins a substantial amount in the lottery in the foreign country. She collects her winnings and deposits them in her bank account in the foreign country in her own name. Your name is not on the account.
You are under no obligation to declare those winnings because they are hers and she is a non-US person. And you have no obligation to report the balances each year from that account, because you have no signature authority over the account. The money is hers.

Now, let's suppose a few years later you decide to move to the U.S. together. She is now a U.S. resident and decides to bring her millions over from Spain to a joint bank account you open together in the U.S.
My question is, would there be any tax implication for you in the U.S. for the money she brings over from a foreign country and deposits in your joint account with her? (or tax implications for her, for that matter).

Thanks.
 

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Have moved you to the Expat Tax section because this is definitely an international tax question.

Basically, no. There should be no tax consequences if she transfers the winnings from a foreign account in her own name to a joint account in the US. Going forward, however, you will wind up paying taxes on any interest or other income from that joint account. However, given that it is a US account, the bank will provide you with a 1099 and will provide the IRS with all relevant information about the account.
Cheers,
Bev
 
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