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    Coach07's Avatar
    Coach07 Posts: 1, Reputation: 1
    New Member

    Feb 19, 2007, 03:42 PM
    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?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert

    Feb 19, 2007, 09:48 PM
    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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