Foreign Inheritance to US Green Card Holder

Question

May 30, 2008, 05:03 AM

chloe2008

New Member

Join Date: May 2008

Posts: 1

Foreign Inheritance to US Green Card Holder

Hi - I am green card holder (married to US citizen) working here in the US. I am a Canadian citizen by birth. I file taxes here in the US and not Canada. My father (Cdn citizen) recently passed away in Canada and left me a sum of money in excess of $100,000.00.

What are the tax consequences to me, federal and state, once this money is placed into my US bank acct?

Answers

May 30, 2008, 05:21 AM	#2

MukatA Tax Expert Join Date: Nov 2007 Location: CA Posts: 2,170	There is no tax on inheritances. Only requirement is that the money coming to the U.S. is actually inheritance or gift. If the amount exceeds $100,000, you must file Form File 3520 Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts. Read about inheritances: Your U.S. Tax Return: Tax on Inheritances

Answer this Question Ask about Taxes

« Previous Thread | Next Thread »

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

Similar Sponsors

Similar Threads
Question	Asker	Forum	Answers	Last Post
Green card holder married to a non-resident	rafaellachuahy	Taxes	1	Apr 7, 2008 05:52 AM
H1B status after married green card holder	lenaask	Immigration Law	1	Apr 2, 2008 10:53 PM
obtaining us passport for green card holder	kira808	Visas & Passports	3	Mar 3, 2008 11:23 AM
Citizen married 01/07 to former H1-B, now Green Card holder. 1040?	pharmagoddess	Taxes	4	Jan 13, 2008 10:09 AM
Green card holder travelling	duy	Immigration Law	1	Nov 8, 2007 01:55 PM



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!