[sju4ever3]

My father passed. He left my a house in Mexico as inheritance, which I sold. It when from his name to the new owners name, I got the Money. The money is sitting in a bank in Mexico. When I transfer that money to the US I know that the banks have to report anything over 10,000 to the IRS. When I file my Income tax do I have to show that amount of inheritance and do I have to pay any taxes? Thanks

[MukatA]

There is no inheritance tax in the U.S.
Your cost basis of the house is the fair market value at the date of death. If you sell the property at a price higher than your cost basis, you have a gain which you will report on schedule D (Form 1040). If you paid taxes in foreign country, you will claim Foreign Tax Credit (Form 1116).
Your U.S. Tax Return: Tax on Inheritances

[ebaines]

One additional point - while there us no federal inheritance tax, some states do have inheritance taxes, so you should investigate whether you need to file anything with your state. Tell us what state you live in and we'll let you know.