topic Re: Form 3520 in Get your taxes done using TurboTax

Form 3520

carogeo — Mon, 12 May 2025 09:20:31 GMT

I received an Inheritance from a foreign individual in Germany. When filling out form 3520 do I need to list the individual items inherited i.e. house, stocks, cash... or just the total value? Also I assume the value of the items before I had to pay the foreign tax?

Thanks for any information.

Re: Form 3520

KristinaK — Wed, 14 May 2025 18:52:10 GMT

I would suggest adding a line for each category of property inherited. For example, House, cash, vehicle, etc.

You need to use the fair market value of the property before you pay foreign taxes on it.

Remember, you may also have filing requirements for Forms 8938 and FBAR.

Re: Form 3520

carogeo — Thu, 15 May 2025 11:45:38 GMT

Thank you!