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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
Convention
Rule for determining MACRS depreciation in the year property is placed in service. Either a half-year convention or mid-quarter convention applies.
