Thank you. I have more questions on question 2:
So if the inherited property was worth less than $100,000 ( and it is), I do not have to file anything for the inheritance itself?
We have already paid the tax to the foreign country. We paid it at the same time as the sale. We do not need an extension.
Regarding making an estimated quarterly payment now that takes into account the foreign property sale, how can I decide how much to pay, given that 20% was already taken away from us in taxes when we made the sale. Please know that I know absolutely nothing about selling property whether here or in another country. So please give me the "for dummies"/newbie answer.
Thanks!
