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Get your taxes done using TurboTax
Was your father a US citizen or US green card holder? If so, you do not report the inheritance on your tax return. However, if your father was a nonresident alien, then you may have to report the inheritance if it was more than $100,000 on form 3520. You don't report the inheritance as income, but the 3520 is an informational form to report a financial transaction with an foreign entity.
Note that the IRS has not yet updated this form for 2022.
Also note that TurboTax does not support this form, please see the excellent answer from DoninGA here.
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‎January 13, 2023
11:02 AM
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