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    #1

    Foreign Inheritance

    A US citizen and taxpayer inherited $100,000 from his parent estate in Iran....Is this taxable because of the source of the funds or is it non taxable like a normal US inheritance?

    Thanks,,,Duane Anderson
    Tags: None
    #2
    You follow the same rules as any other taxpayer would when receiving a distribution from an estate. Principal is not taxable. Interest, earnings on annuities, etc., etc. are. As far as Iranian taxes and their laws, can't help you there.

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      #3
      Look at Form 3520, as well as the 8938 and FinBAR.

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        #4
        Originally posted by Gary2
        Look at Form 3520.
        Yes ... in particular item 4a under the caption "Who Must File."
        Roland Slugg
        "I do what I can."

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          #5
          Not an expert

          but had a client whose father in Europe gifted money to son here and there was some tax/? he had to pay here.

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