Question
Foreign inheritance
Hello All
Got a client who received a foreign inheritance from her late husband's estate in Australia. The Australian attorney did not send her any tax documents.
She received over $300,000 which was deposited into her US bank account. The bank showed the transfer as a domestic transfer.
Would like to confirm if this is correct: I need to file form 3520 and the inheritance is non-taxable income.
Thank you for your guidance.
