Hello everyone!
I’ve just sold my house in the US and will be moving to Japan next month and I want to move my money into a Japanese bank account as soon as possible to take advantage of the favorable exchange rate. I think I understand the basic process, but I want to make sure I’m not missing anything or creating any complicated tax issues down the road.
Here’s the relevant info of our situation:
* I’m a US citizen, wife is Japanese
* Primary residence, married filing jointly ($500,000 capital gains tax exclusion, if I understand correctly)
* I don’t have a Japanese bank account yet
* Closing will happen when we are both still in the US
I’m sure this is a common process, but I haven’t found anything that explicitly outlines everything.
Thanks in advance for your help!
by yeclek