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
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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
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.
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
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