I moved from India to US on H1B last year. I have landed some money to my brother for some business without any interest. Now I would be receiving that money back from him. I need to transfer that Money to US. I have NRO and NRE account.
Question: 1. Which account should I use NRE / NRO? 2. Do i need to report any thing while filing my taxes with 1040 or do I need to submit any other form.
Thank you in advance.