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Wendy Reed
Wendy Reed, Enrolled Agent
Category: Tax
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Experience:  15+ years tax preparation and tax advice.
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What are the tax ramifications of receiving an inheritance

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What are the tax ramifications of receiving an inheritance from someone who lived in Israel and was a citizen of Israel?

What is Israel's laws and taxes regarding the the person inheriting being a US Citizen living in the US?

Thank you for giving me the opportunity to assist you. I will give the best answer that I can with the information provided.



There is no inheritance tax in Israel, and inheritance law does not differ as to whether the beneficiary is an Israeli or US citizen.


However, there are a couple of things to keep in mind....


If the inherited property is sold before you receive it, or held in an estate, there may be interim taxes, such as capital gain and or/ tax on interest. These taxes should ordinarily by paid by the executor before transferring to beneficiaries.


Also, when you accept receipt of gift or inheritance from a foreign source of over $100,000, you must file IRS Form 3520. This is not a form to assess tax (as the US has no federal inheritance tax), but it is a reporting form.


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