Canadian non-resident with land inheritance

[tlomness]

Hello - I am an American citizen and Canadian non-resident. My family owns a farm in Canada and I have rights to some of the land. What are the tax consequences of inheriting farmland as Canadian non-resident. The value is estimated at over 2 million dollars. I have been told I could have a serious tax bill upon inheriting the land.

[nelsona]

There will be no US tax consequences by inheriting this property. You will merely need to report the inheritance on Form 3520, because of its high value.

However on the Cdn side, there will indeed be tax consequences for the estate. How to mitigate those need to be discussed with a Cdn estate planner.