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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 55473
Experience:  29 years of experience as a tax, real estate, and business attorney.
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My father, (who was German and never lived in America) passed

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My father, (who was German and never lived in America) passed away a year and a half ago and my two brothers and I inherited a apartment in a single family home in Germany.
The apartment will now be sold and I will get a small sum of money. I am now an American citizen. Do I have to pay taxes (and what kind?) on that money?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good evening. You will owe no inheritance tax. But, if the amount is more than $100,000, you will be required to file Form 3520 with the IRS to report the receipt of these funds. There will be no tax; this is simply a reporting form. If $100,000 or less, you have no tax and no reporting requirement.

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Customer: replied 4 years ago.
It will be way less than 100.000 and do I understand correct, I can transfer the money from my account in Germany to my Bank account in Florida and not worry about the IRS?
Thanks for replying. Yes, that's correct.
Thank you so much for the positive rating! I appreciate having had the opportunity to serve you! If I can be of assistance to you in the future, just look me up and I will be happy to help!