Question
How to write on form 3520 description?
If in one year I received:
1. Foreign wire transfer from a foreign relative(two wires on two different dates, totaling $50,000)
2. Proceeds from foreign life insurance upon the death of a foreign relative (different relative from 1, totaling $100,000)
how should I write the description on Part IV 54 (b)?
They all show up in my US bank account as wire transfer(they were all directly deposited into my US bank account), so can I just sum them all together and describe it as one "foreign wire transfer" totaling $150,000 and using the first day of the wire transfer as the date of the bequest?
