Submitted By: Jacqueline
Answered: July 22, 2013 11:03 am

I inherited money from my parent who died in Thailand. He was not a U.S. citizen or resident. Is this money taxable? Do I have to file any IRS form?

The inheritance is fully tax free, regardless of amount. You do not have to report the inheritance on an income tax return or any other form.

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Tax Glossary

Disaster losses

Casualty losses such as from a storm, in areas declared by the President to warrant federal assistance. An election may be made to deduct the loss in the year before the loss or the year of the loss.

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