Does my client have to pay an inheritance tax from an aunt that passed away in UK. the total US $120,000. Do I report anything on their 1040 tax return??
Does my client have to pay an inheritance tax from an aunt that passed away in UK. the total US $120,000. Do I report anything on their 1040 tax return??
No, he was the beneficiary of his aunts estate in UK. The law firm in UK sent the money to his bank account here in the US. The money was sent in UK dollars 99,999 and converted here in the US
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