Taxes on funds that are transferred for purchasing property

@56tbourne I consulted with our Accountant and he indicated that money transferred to Brasil for the purpose of purchasing a home is exempt from taxation.  But there is a big but.  You must provide documentation that this money is 'clean'.  Copies of bank statements, taxes, paychecks etc.  will always pave the way for transfers of large sums of cash.  As others have stated, build that relationship with your bank and give them plenty of notice when you are going to transfer the funds.  You also will save yourself a lot of hassle if you transfer it from yourself to yourself and not a third person.  The bank transfer fees and IOF taxes can be negotiable with the bank but those fees are relatively small when you consider the amount of money transferred.  What is especially maddening is that no matter how well you prepare, the central bank could and will likely deny the transfer until you upload the same documentation to them.  I have transferred over $250K to Brazil over the last year and encountered these temporary road blocks more often than naught. 

Reading a few different things. Since there is an array of transferring funds, 1 question remains. If transferring $ from a bank in the US to to private seller/bank in Brazil, besides the usual small fees for the transaction, would one expect taxes on the money itself? Just don't want any big tax surprises. Comments or recommendations are welcomed. If anyone has an example that would be great. Just trying to get a clearer picture. The property we are looking at is around 1.5  million Brazilian R

- @56tbourne

@Michael P369 You're forgetting about the state tax on transfer of wealth. Most states levy taxes  of up to 7% on gifts and inheritances, even when they come from outside the country.