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Submitted By: Alex
Answered: July 23, 2013 8:30 am
Answered: July 23, 2013 8:30 am
My wife inherited money from her father in Syria. Is this taxable to her?
No. An inheritance, regardless of amount, is tax free to the heir. It does not matter whether the person who died was a U.S. citizen or a foreign national.
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Tax Glossary
Tenants in common
Two or more persons who have undivided ownership rights in property. Upon death of a tenant, his or her share passes to his or her estate, rather than to the surviving tenants.
