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April 18, 2024
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Do I need to file any forms with IRS to report inheritance?

  • April 18, 2024
  • 1 reply
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The inheritance is from a country outside of USA.
Best answer by DoninGA

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

1 reply

DoninGA
DoninGAAnswer
Employee
April 18, 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