Hi,
I'm a US citizen. I inherited a real estate property in 2023 from my parent. I did an appraisal and file Form 3520 in tax year 2023.
I will sale the property in 2024. The proceed will be left in the foreign country until 2025. In 2025, I will wire the money to my bank account in the US.
Question 1 - What tax form I need to use for the sale of the inherited foreign property? Which Turbo Tax has that form? Other than FBAR reporting, are there other form I need to file?
Question 2 - When I wired the money to the US, do I need to file any tax form?
Thx - TK
