Bringing money to the States from Iran - forms 104 or 105 money transfer -

Dear David Ingram,
I have a question regarding bringing money into the
United States.
I am a green card holder and I have received it
through my wife (She is an American Citizen) a few
months ago and therefore I have not filed any tax
papers till today.
I live in Iran at the moment and I will be moving to
the United States (California) in the next month to
continue my studies. I have a property in Iran which I
will be renting it during my stay in the States. How
would it be possible for me to receive the monthly
rent money from Iran (legally ofcourse), without
having to pay any kind of tax on it in the states ( As
I will pay tax for it once in Iran).
Or if one day I would sell the house, how can I bring
the money in ?
 
If there is too much sensitivity on Iran, I can also
receive the money from another country such as Dubai
(If that would help).
 
How do you think I should handle this money transfer
in order to avoid any tax problems ?
 
Any help or advise from you would be highly
appreciated.
 
Regards,
------------------------------------------------------------------
david ingram replies:
The second you receive your green card you will become taxable on your world wide income in the United States whether you earn it from wages or services or whether it is investment inocome such as rent, capital gains, interest or dividends.
You will pay your tax in Iran first and then report the gross and net amounts after expenses again on US schedule E which will be part of your US 1040 tax return.  Any tax paid to Iran will be a credit on the 1040 by filing US form 1116.
I recognize that it may be difficult to transfer money directly from Iran to the US.  However, the paper trail wouild be better if you could do so. If not and Dubai has to be an intermediary, use it.  Just keep a good paper trail.
With a wire transfer, you do not need to fill out any US forms, the bank will do it for you.
When and if you sell, the profit from 'when you entered the US to actual sale' will also be taxable on your US return. I think that Iran has a flat capital gains tax of 25% but am not positive so you will have to check this further.
However, if you do pay capital gains tax to Iran, it will also be a tax credit on form 1116 after reporting the capital gain on schedule D.
This older Question will likley assist you or you and your wife to understand the paperwork.
------------------------------
What forms do I have to fill  out if I am transporting more than $10,000 across the American Border
==============================
david ingram replies:  The forms are  104 and 105 for the US if you are taking money in or out of the US. 
The US bank will report the deposit or withdrawal to the US FINCEN on form 104 which you can find at:   http://www.irs.gov/pub/irs-pdf/ffc104.pdf
When you move the money out of the USA, by money order or check, the bank or financial institution will report it again.
The US penalties for failure to fill in these simple forms is up to $500,000 PLUS 5 years in jail.
If you remove more than $10,000 at any one time, the bank will report those transactions as well.
If you decide to carry the cash or transport it in or out of the USA as a cashier's cheque, you have to file form 105.  You can find the form at:  http://www.irs.gov/pub/irs-pdf/ffc105.pdf
-------------------------------------
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This is not intended to be definitive but in general I am quoting $900 to $2,900 for a dual country tax return.
$900 would be one T4 slip one W2 slip one or two interest slips and you lived in one country only (but were filing both countries) - no self employment or rentals or capital gains - you did not move into or out of the country in this year.
$1,100 would be the same with one rental 
$1,300 would be the same with one business no rental
$1,300 would be the minimum with a move in or out of the country. These are complicated because of the back and forth foreign tax credits. - The IRS says a foreign tax credit takes 1 hour and 53 minutes.
$1,600 would be the minimum with a rental or two in the country you do not live in or a rental and a business and foreign tax credits  no move in or out 
$1,700 would be for two people with income from two countries
$2,900 would be all of the above and you moved in and out of the country.
This is just a guideline for US / Canadian returns
We will still prepare Canadian only (lives in Canada, no US connection period) with two or three slips and no capital gains, etc. for $175.00 up.
With a Rental for $375
A Business for $375 - Rental and business likely $500
And an American only (lives in the US with no Canadian income or filing period) with about the same things in the same range with a little bit more if there is a state return.
Moving in or out of the country or part year earnings in the US will ALWAYS be $800 and up.
TDF 90-22.1 forms are $50 for the first and $25.00 each after that when part of a tax return.
8891 forms are generally $50.00 to $100.00 each.
18 RRSPs would be $900.00 - (maybe amalgamate a couple)
Capital gains *sales)  are likely $50.00 for the first and $20.00 each after that.
Catch - up returns for the US where we use the Canadian return as a guide will be $150 to $500.00 depending upon numbers of bank accounts, RRSP's, existence of rental houses, etc.
Just a guideline not etched in stone. 
This from "ask an income trusts tax and immigration expert" from www.centa.com or www.jurock.com or www.featureweb.com. David Ingram deals on a daily basis with expatriate tax returns with multi jurisdictional cross and trans border expatriate problems  for the United States, Canada, Mexico, Great Britain, United Kingdom, Kuwait, Dubai, Saudi Arabia, Thailand, Indonesia, Japan, China, New Zealand, France, Germany, Spain, Italy, Russia, Georgia, Brazil, Peru, Ecuador, Bolivia, Scotland, Ireland, Hawaii, Florida, Montana, Morocco, Israel, Iraq, Iran, India, Pakistan, Afghanistan, Mali, Bangkok, Greenland, Iceland, Cuba, Bahamas, Bermuda, Barbados, St Vincent, Grenada,, Virgin Islands, US, UK, GB, and any of the 43 states with state tax returns, etc. Rockwall, Dallas, San Antonio Houston, Denmark, Finland, Sweden Norway Bulgaria Croatia Income Tax and Immigration Tips, Income Tax  Immigration Wizard Antarctica Rwanda Guru  Consultant Specialist Section 216(4) 216(1) NR6 NR-6 NR 6 Non-Resident Real Estate tax specialist expert preparer expatriate anti money laundering money seasoning FINTRAC E677 E667 105 106 TDF-90 Reporting $10,000 cross border transactions Grand Cayman Aruba Zimbabwe South Africa Namibia help USA US Income Tax Convention. Advice on bankruptcy  e bankruptcy expert  US Canada Canadian American  Mexican Income Tax help. 
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