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    pollyanna55's Avatar
    pollyanna55 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 25, 2009, 05:41 PM
    Receiving inheritance from out of u. s. What about taxation?
    I was led to your site by the very same question. I was floored that the answer was 'no tax by heirs'?? All this time I've been worried about bringing it into this country and losing 40% of the money. I am sorry but can we go over this again? How can this be? I know nothing of the financial matters of my relatives. I don't want to be a little poor girl that got rich and soon found herself poor again. I want to do right by my relatives and not squander the money so I've got to raise my money IQ fast!
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Jan 25, 2009, 10:51 PM

    There is no federal tax on inheritances. If you bring that money from out of U.S. still you do not pay any tax.
    If you are getting money as gift or inheritance from a foreign country, you may be required to file Form 3520. Read: Your U.S. Tax Return: Tax on Inheritances
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