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Do I need to file any forms with IRS to report inheritance?

The inheritance is from a country outside of USA.
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DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to file any forms with IRS to report inheritance?

If you received a gift/inheritance from a foreign nonresident individual and the amount was over $100,000 then you will have to file an IRS Form 3520.  The form is not included with your tax return and is mailed to a separate address that is in the instructions for the 3520.  TurboTax does not support Form 3520.

 

Go to this IRS website for the Form 3520 - https://www.irs.gov/forms-pubs/about-form-3520

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DoninGA
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Do I need to file any forms with IRS to report inheritance?

If you received a gift/inheritance from a foreign nonresident individual and the amount was over $100,000 then you will have to file an IRS Form 3520.  The form is not included with your tax return and is mailed to a separate address that is in the instructions for the 3520.  TurboTax does not support Form 3520.

 

Go to this IRS website for the Form 3520 - https://www.irs.gov/forms-pubs/about-form-3520

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