What are the implications on estate tax for property acquired from a foreign parent (who is not a US resident)

Houston Tax Attorney


Parent in India, if the children living in the US as citizens or permanent residents inherit the parents’ property in India, do they need to pay estate taxes in the US.

No but you may be required to file Form 3520 and other information reporting forms. The penalties can be severe for not reporting on these forms so be sure to conduct your due diligence or hire a tax attorney or a CPA that specializes in expat/inpat tax.

-Law Office of Kunal Patel, LLC

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