My parents have some RMB, enough to buy a small house close to mine (in US). They do not want do other investments in China. They want to use it to buy a house for themselves when they visited US. I can rent it out when they are not here. Of couse, everything under my name (ideally). This will eventually become my property (as grandsons' education fund as they claimed). Questions:
1. What is the best way to send money to US (assuming they have exchanged RMB for $ in China). If they do bank wire transfer, does it count for my income for this year? and tax?
2. If I put them as owner, is there any issue, like inheritance tax eventually?
3. If I put myslef as owner, any other issues? assuming pay by cash, no mortage.
Thanks in advance. Sorry cannot type Chinese in office.
