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

Incentive stock option

Option meeting tax law tests that defers tax on the option transaction until the obtained stock is sold.

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