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-   -   Inheritance of Cash (https://www.askmehelpdesk.com/showthread.php?t=287513)

  • Dec 2, 2008, 01:29 PM
    LonJ
    Inheritance of Cash
    If you receive a cash inheritance from a deceased relative with a foreign bank account, when you are named the beneficiary of the account by that countries court system, will the monies received be taxable? :confused:
  • Dec 3, 2008, 03:54 AM
    MukatA

    In the U.S. there is no tax on inheritances. However, if the amount exceeds $100,000 you must file form 3520.
    Your U.S. Tax Return: Tax on Inheritances

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