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Inheritance From Foreign Country
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? |
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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. |
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