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.
Inheritance Question
Moderator: Mark T Serbinski CA CPA
Re: Inheritance Question
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
The gifts appear to be well-below the tax threshold
nelsona non grata. Non pro. Please Search previous posts, no situation is unique as you might think. Happy Browsing