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Comments

• dhork@lemmy.world ⁨2⁩ ⁨hours⁩ ago

  No, you won’t have to pay taxes on that cash when importing it. But you can bet that CBP will ask nosy questions where you got it. And unless you can satisfy them that you got it by legitimate means, they will assume you got it by illegal means and confiscate it. It’s called “civil asset forfeiture”. Look it up.

  Now, this situation is one of the few legitimate use cases for crypto. Find someone locally who will sell you a few hundred BTC with that cash, and now CBP has nothing to find at the airport. Then cash it out once you are in the States. The IRS would still be interested in where you got the money, be cause they monitor all the ways to get cash out of the Crypto ecosystem I to the US. But, as long as you have documentation of your lottery win (and crypto transfers) and file it all it shouldn’t be an issue. I would prefer to take my chancds as a documemted rich person by the IRS than as a rando who shows up at Newark with a briefcase of foreign currency.

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• slazer2au@lemmy.world ⁨3⁩ ⁨hours⁩ ago

  Massively depends on where you are taking that money to and what kind of tax agreement the 2 countries have.

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• AcesFullOfKings@feddit.uk ⁨3⁩ ⁨hours⁩ ago

  You’ll be needing this www.youtube.com/watch?v=RhsUHDJ0BFM

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