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Question Details Asked By Asked On
Tax on Inheritance Money from Another Country Ccl471 03/09/07
    Let's say I had a very rich grandfather who lived in another country. And let's say he decided to give me a sizable inheritance, say a few million dollars, by depositing the money into my bank account. Let's say I had a Citibank account and there was a Citibank branch in my grandfather's country.

    Would I have to pay taxes on that money, either to my government(U.S.) or to my grandfather's government or both?


    Many thanks,

    C.L.

Summary of Answers Received Answered On Answered By Average Rating
1. Inherited cash, like most bequests, is not taxable in the U....
 03/30/07 jancpaExcellent or Above Average Answer
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