Inheritance Question

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eeyore
Posts: 35
Joined: Tue Mar 19, 2013 6:45 pm

Inheritance Question

Post by eeyore »

Our family lives in Canada and we're all dual citizens (Canada/U.S.). We recently received inheritance money from a U.S. citizen ($15K US for parents, $12K US for each of the four kids).

Are there any tax or reporting requirements on the U.S. side. other than the FBAR and (potentially) Form 8938?

Thanks.
nelsona
Posts: 18676
Joined: Wed Oct 27, 2004 2:33 pm
Location: Nowhere, man

Re: Inheritance Question

Post by nelsona »

Inheritances from US estates are part of the final estate tax return, not those inheriting.

The gifts appear to be well-below the tax threshold
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best
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