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Foreign Inheritance to US Green Card Holder

Asked May 30, 2008, 06:03 AM — 1 Answer
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?

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MukatA's Avatar
MukatA Posts: 7,105, Reputation: 963
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May 30, 2008, 06:21 AM


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
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