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Get your taxes done using TurboTax
@SusanY1 I have a somewhat related question, although unrelated to real estate. My mother-in-law passed away last year, so her bank opened an estate account, i.e. it had one or more executors (aka "liquidators") in charge of specifying the distributions to heirs. Does the IRS consider the estate account to be a foreign trust ? My wife (US resident) definitely needs to file a 3520 this year, but I'm not sure about Form 3520-A when it comes to foreign estate accounts and inheritances.
‎April 5, 2024
3:33 PM