Tax on inheritance money

[Lolapalola]

I am a Canadian with dual citizenship. Have lived in Florida for 15 years. My father recently passed away and I will be receiving a small amount of money from his estate. How do I go about claiming this on my taxes?
thx in advance. :?:

[nelsona]

Inheritors pay no tax on inheritance, in either US or canada from estates from any country.

[Lolapalola]

[quote="nelsona"]Inheritors pay no tax on inheritance, in either US or canada from estates from any country.[/quote]


Thx. Do you know what form I use to claim it on my taxes? Do they need proof that it is an inheritance?

[nelsona]

It is not reported anywhere. the ESTATE reports it, in US for ESTATE tax purposes, but that is all.

[Lolapalola]

[quote="nelsona"]It is not reported anywhere. the ESTATE reports it, in US for ESTATE tax purposes, but that is all.[/quote]

ok that makes sense, but the estate was in Canada and they do not fill out US taxes. thx

[nelsona]

That is correct.

[primo]

You don't pay tax but I think you may have to file a 3520 if you receive more than $100,000 from a foreign estate (a bequest).

From the IRS website:

Reporting Requirements
You must file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, if, during the current tax year, you treat the receipt of money or other property above certain amounts as a foreign gift or bequest. Include on Form 3520:

Gifts or bequests valued at more than $100,000 from a nonresident alien individual or foreign estate (including foreign persons related to that nonresident alien individual or foreign estate);

[nelsona]

" a mall amaount of money".

Nothing to report.

[nelsona]

" a small amount of money".

[primo]

small is relative.

[nelsona]

Indeed. Your answer was correct. Thanks