I am a US citizen and live in the US. I want to transfer large sum of money, about $200,000 from my wife's Chinese account in China. We recently married, and this is her savings. This money is for a down payment on a new house in the US, for us to live. Currently we are in the middle of paperworks with US Citizenship & Immigration services, so she can be legally admitted into the US. Will the amount of money that she wires to my account be taxed, or how should I approach this. Any special paperworks needed to declare this with the IRS or any other US agency?
Seems to me this is all non taxable, as it's personal incoming/savings in China for a Chinese citizen, and not my income. But rather my money through marriage.
Any help would be appreciated toward correct paperworks/forms.