"I have milk."
Translation:У меня есть молоко.
It would mean that the 'existence' or 'having' is not the new information. In «У меня́ молоко́», «молоко́» is the new information: i.e. the listener knows I have something, and I want to say what exactly I have. So «у меня́ молоко́» would be translated 'What I have is milk'.
Maybe some misspelling?
Имеется is also correct, although it sounds much more formal to my ear.
Because that would be an emphatic way to say ‘I am milk’ (although «Я — молоко» would be a more natural way to convey the same meaning).
The structure of the Russian phrase is different from the English one:
- у = at, near (a proposition indicating possession; used with Genitive-case form);
- меня = me (Genitive-case form of я);
- есть = [there] is
- молоко = milk.
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