QUESTION
Cash Inheritance & Tax Implications for Repatriation from India to the U.S.
Asked on Jan 22nd, 2015 on Estate Planning - New Jersey
More details to this question:
My father was an Indian citizen and resident who recently passed away and left me a sizable cash inheritance. As a U.S. citizen, I would like to understand the tax implications for receiving such an inheritance as well as the best way to repatriate the funds to the U.S. where I reside.
1 ANSWER
2 Awards
You might want to talk to an accountant about this since there are limits on the amounts, and it may have inplications for your incoe tax.
Answered on Jan 23rd, 2015 at 1:32 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship