BTW, @friendassistance we are assuming that you are a US citizen or permeant resident. If not let us know. That might change a lot.
As usual @pk adds some very help elaborations. This is all so complicated that it is very helpful to be very clear.
Re: @pk's (b) the FBAR / fincen 114, filing requirement. That is an excellent point. Note the reporting requirements for that are the you have ownership or a certain control of the bank account and that the amount triggering a report is $10k USD equivalent in any foreign bank account at anytime during the year. See https://www.irs.gov/businesses/small-businesses-self-employed/report-of-foreign-bank-and-financial-a... and https://bsaefiling.fincen.treas.gov/main.html for more information.
Re: (c) basis of the real estate. Note this is about US income tax (1040) (not gift tax). Income includes the gain from sale of property. Gain is sale price - basis (oversimplified a bit). Basis of inherited property is, as @pk describes, the FMV (fair-market value) of the property as of the date of death. Usually the gain from inherited real estate promptly sold is zero or even a loss (because of the expenses of the sale and because the value won't have changed much from the date of death) https://www.law.cornell.edu/uscode/text/26/1014
Re: (d) tax paid to a foreign country. @pk is talking about income taxes. The inheritance tax that you paid is not considered for US income tax purposes (form 1040). I don't think you can add it to your basis, but again I think you need a professional to advise you. It might or might not be an offset if you had US estate taxes, maybe based on a treaty. But that wouldn't apply unless your parents were US persons and their estate was very large. It might not apply even then because the foreign tax was an inheritance tax not an estate tax.
Here are two law firms' articles on the subject. I'm sure you can find others with a quick search. They could be a good starting point. Ask how much an hour or two of their time would cost. Could be well worth it. One of them offers a free 30-minute consultation.
https://www.jdkatz.com/a-comprehensive-guide-for-u-s-citizens-inheriting-assets-from-abroad/
https://ceritypartners.com/insights/receiving-an-inheritance-from-abroad-special-considerations-for-...
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