Long, lost family member died in 2002 in Malaysia. I am sole surviving heir. After paying for services rendered in Malaysia for transferring the estate to me, my net gain expected to be $1.4MM.

Since only $1MM is excluded from inheritance or income taxes on deaths occurring in 2002, what rate of tax should I expect? Will I be taxed on the gross amount of the funds or the net amount?

An estate tax computation would take a fair amount of time, which is in short supply this time of year.

Contact me at [email protected] if you want to hire my services. We can discuss rates.