Thanks so much DaveF1006 for replying so fast.
I've been staring at the instructions for 3520 for 2 days now and still struggling to understand. Why couldn't they just say: "Did you inherit and sell a home abroad?" ... In my (innocent) understanding of what's written under Who Must File, I fit none of the 4 descriptions. In my case, there was no trust involved anywhere (I don't even think we have those in my country)...
The apartment sale was pretty simple--the realtor found us a buyer, we signed paperwork at the notary public, and then we all filed into a bank of the buyer's choosing (where I had to open an account in order to receive the money). The buyer transferred money from their acct, 1/2 to my acct, 1/2 to my sister's acct, and then we each paid the realtor and I also my lawyer, right on the spot in cash (I have all my receipts). Done.
So I ended up with a new bank acct in my country of origin with $51k in it. I am a US permanent resident, citizen of my country, and I've been paying tax to US since I arrived long time ago. I know I must file the FBAR (even more confusing!) but do I still have to file 3520 and if yes, what do I enter where for this very simple case?
I have always had the simplest return, so this is quite daunting. I appreciate any help figuring this out!
V
