[DaveVT]

My grandfather in Sweden set up a brokerage account for me many years ago. He has passed, and in 2011 I closed the account and transferred the funds to my bank account (and eventually my own brokerage account in the USA). The total amount in the Swedish account, and transferred, was under $10,000, so I have not reported it on form 3520 in the past years.

My grandfather oversaw the account, so I don't know if taxes were ever paid in Sweden. However, do I need to pay taxes on the funds transferred to me in the USA? If so, which form do I use?

Thanks,
-David

[taxesforaliens]

You do not pay taxes on the transfer itself. However, if you were a resident/citizen/resident alien in the US at the time of sale you would need to report loss/gain from selling the stocks. The basis in the stocks would be the value on the day your grandfather died.

[MukatA]

1. Yes, as taxesforaliens said you may have to report the gain or loss of stocks. If the sale price is more than the value on the day of your grandfather's death, you have long term capital gain.
2. You may also have to file Form TD F 90-22.1.