a friend is paying me back a 200,000 loan by wiring the 200,000 into my savings account. Will I be charged tax. I live in NYC . All this money was originally given to me by relatives and sitting uninvested in my brokerage account . Do I need to pay taxes to but it back into my savings account?
Tax is not payable on a repayment of loan principal, I.e. receiving back what you loaned to someone. It is payable on any interest or similar paid over and above what you were loaned. This assumes the money you loaned was yours.
Given the amounts you should have thorough documentation of the amount loaned and repaid and when this occurred, in case of audit.
If the transfer is international make sure you comply with money laundering rules.