Here's my situation with hopefully all the relevant details:
- F1 visa holder, currently living and working on OPT in the US. I have been here for more than 5 years so I am considered a resident for income tax purposes (although I am not sure if this applies to inheritances)
- A dear family member passed and according to the will left me an inheritance. These funds are currently in their (to be liquidated) foreign bank account in foreign currency. Amount is low 6 figures when converted to USD.
- I would like to transfer this foreign money to my US investment account. How do I report this correctly and what taxes will I owe to the IRS for this transfer?
