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    ldpglow's Avatar
    ldpglow Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 11, 2008, 08:42 PM
    Taxes on foreign inheritance for US citizens
    If I am a US citizen inheriting a large sum of money from a distant relative, who lived in a foreign country, such as Spain, what kind of taxes and what percent would I have to pay. Also can we get names of US lawyers that would handle a situation like this?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 30, 2008, 02:08 PM
    You will pay NOTHING in U.S. taxes on such an inheritance.

    You do not need a lawyer.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #3

    Apr 30, 2008, 04:24 PM
    Sounds like this could be a scam. In any case, you should be sure to report the receipt of the inheritance on Form 3520, Part IV.
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