Submitted By: Alex
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

Intangible assets

Intangible assets that come within Section 197, such as goodwill, are amortizable over a 15-year period.

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