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Level 1
posted May 12, 2025 2:20:31 AM

Form 3520

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.

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2 Replies
Employee Tax Expert
May 14, 2025 11:52:10 AM

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. 

Level 1
May 15, 2025 4:45:38 AM

Thank you!