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  1. #1
    vike22 Guest

    foreign inheritance

    I live in Florida and am expecting a large amount from the proceeds of an inheritance in which I was the benefactor. The inheritance is in an account in a foreign country and will be wired to my bank within a week or so.
    My main question is: what taxes can I expect to have to pay on the inheritance? If not initially, will I face taxes on the amount next April 15th? And are there ways to place the proceeds in a trust to avoid - not evade - taxes?
    Thanks for any advice.

  2. #2
    loku Guest
    There is no tax to you on an inheritance. The only tax you would have from this is income tax on any interest or dividend income that is earned by the inheritance after the date of the inheritance.

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