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March 15, 2020
Question

How do I complete inheritance K-1 form particularly related to foreign tax?

  • March 15, 2020
  • 1 reply
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Employee
March 16, 2020

@2fltx7i3rs , you need to tell more about the scenario.

(a) generally there is no inheritance tax in the USA

(b) K-1 is only for US trust/estate covering only US based assets of the decedent--- most foreign courts do not recognize  US jurisdiction in  probate  matters  absent a  US judicial order processed through US State Department and cognizant authority in that foreign country. 

 

Need to know -- are you a citizen/resident of the USA? was the decedent a citizen/resident of USA ?  which country is the asset in ?  how did the  Estate/Trust  dispose off the asset and issue  K-1 ?  what kind of asset ?  Did the foreign country  tax the disposal of the asset ? and if so  as what category ?  Any more information you can provide would help focus the  answer , please