View Full Version : Foreign inherited property reporting requirements
justwonder2
Mar 5, 2011, 01:13 PM
Hi,
I was wondering what are the reporting requirements for inheriting an old house that is not generating income in a foreign country? What form do I have to file?
Thank you
ebaines
Mar 7, 2011, 07:39 AM
There is no inheritance tax imposed by the US, so no form is necessary. There may be filing requirements imposed by the country where the property is located - you will have to check with the local authorities about that.
grouchy
Apr 5, 2011, 02:48 PM
my understanding is that you have to file form 3520 section IV if the value of the inheritance exceeds $100000. You don't have to file if it is less. Also note if you have to file it it needs to be sent to a different address from the regular tax return the address is on the form