Canadian residing in the US, about to receive an inheritance

[Yuri gagarin]

I'm about to receive an inheritance from my deceased father and don't want to blunder. I've googled and can't find a straight answer regarding taxes on this end. In Canada all taxes related to the inheritance will be paid and what I receive will be mine to keep. When I transfer it here, it won't be regarded as income, correct? I essentially will be transferring money I have free and clear in an account there to an account here without fear of it being perceived as a taxable gain, right? If I then invest it and make gains on that, those will be taxable. But the original capital?

Any help would greatly be appreciated, whether it be straight answers to my questions, pertinent links to accurate information, or who to contact to get such information.

Thanks.

[nelsona]

Correct.
At most you may have some tax to pay of minor gains/income made after the money becomes your s and before you take it to US, but IU would nit worry about this.

You will have to declare the inheritance on a form 3520, subject to amount limits, but no tax,