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May 12, 2025
Question

Form 3520

  • May 12, 2025
  • 1 reply
  • 0 views

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.

    1 reply

    Employee
    May 14, 2025

    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. 

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    carogeoAuthor
    May 15, 2025

    Thank you!