https://ttlc.intuit.com/community/taxes/discussion/re-foreign-inheritance/01/2793711#M1027484 <P>Threshold question:&nbsp; Was the parent an American citizen?</P> <P>The United States is one of the few countries that asserts the right to tax its citizens on worldwide income.</P> <P>If the parent is an American citizen and the estate is very large, there may be an estate tax issue.</P> <P>If the parent is a Foreign National and clearly not resident in the United States, then the only issue you have is a reporting requirement if the bequest&nbsp; to you exceeds $100,000.</P> <P>The reporting is done by filing Form 3520 Annual Return to Report Transactions with Foreign Trusts and receipt of Certain Foreign Gifts.</P> Thu, 17 Nov 2022 01:30:21 GMT RSUMan 2022-11-17T01:30:21Z https://ttlc.intuit.com/community/taxes/discussion/foreign-inheritance/01/2792816#M1027483 <P>We recently had a parent die who lived in Spain. We know we have to set up an F-Bar. Any other tips?</P> Tue, 10 Mar 2026 06:49:42 GMT https://ttlc.intuit.com/community/taxes/discussion/foreign-inheritance/01/2792816#M1027483 MeganM2 2026-03-10T06:49:42Z https://ttlc.intuit.com/community/taxes/discussion/re-foreign-inheritance/01/2793711#M1027484 <P>Threshold question:&nbsp; Was the parent an American citizen?</P> <P>The United States is one of the few countries that asserts the right to tax its citizens on worldwide income.</P> <P>If the parent is an American citizen and the estate is very large, there may be an estate tax issue.</P> <P>If the parent is a Foreign National and clearly not resident in the United States, then the only issue you have is a reporting requirement if the bequest&nbsp; to you exceeds $100,000.</P> <P>The reporting is done by filing Form 3520 Annual Return to Report Transactions with Foreign Trusts and receipt of Certain Foreign Gifts.</P> Thu, 17 Nov 2022 01:30:21 GMT https://ttlc.intuit.com/community/taxes/discussion/re-foreign-inheritance/01/2793711#M1027484 RSUMan 2022-11-17T01:30:21Z