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Submitted By: Jacqueline
Answered: July 22, 2013 11:03 am
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
Recognized gain or loss
The amount of gain or loss to be reported on a tax return. Gain may not be recognized on certain exchanges of property.
