My mom (at the time of transfer was not a US permanent resident, she is now) gifted me her foreign real estate valued above $100k in 2023. Essentially, I filed 3520 on 2024 to report the gift.
I'm planning to sell the estate near the end of 2025, I will transfer that money (above $100k) to my foreign bank account then transfer that amount to US bank account. What forms do I need to file? I did some research so correct me if I am wrong.
1. I need to file 8938 and Fincen114, correct?
2. Do I need to pay capital gain tax when I sell the house? If I do, which form do I report it on?
