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

userraj-s-bedi · ‎April 17, 2024

The inheritance is from a country outside of USA.

DoninGA · ‎April 17, 2024

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

View solution in original post

DoninGA · ‎April 17, 2024

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