My
mother passed away on 2/17/2018 and she was not a U.S resident. I received her inheritance
$120,000 on 5/12/2018 via wire transfer and received her inheritance $80,000 on
8/23/2018 via wire transfer. On form 3520, in line 54 table, should I report the
2 time wired money as 1 item (total $200,000), or report the money as 2 items, first
one is $120,000 and second one is $80,000? Should I write the date (column a)
as the day of my mother passed away, or use the day I received the wired money?
How should I describe the inheritance in column b?
The IRS instructions on this follow:
Since obviously the two gifts are from the same person, the "related parties" condition applies."You must aggregate gifts received from related parties. For example, if you receive $60,000 from nonresident alien A and $50,000 from nonresident alien B, and you know or have reason to know they are related, you must report the gifts because the total is more than $100,000. Report them in Part IV of Form 3520. Treat gifts from foreign trusts as trust distributions you report in Part III of Form 3520."