Posted by Nick Young , 3 replies
I am a dual national (UK originally, US by marriage) working in the US and paying US taxes. I recently inherited about 40,000 GBP. There was no UK inheritence tax paid as the total estate was below the taxable minimum. Where do I stand with regards to US taxation? Do I declare this on my return (Virginia State / Federal)? Any thoughts on how best to transfer this to the US?
I’m not sure if the rules have changed but hopefully the following article will answer all your questions:
There should not be any US tax.
Esquire Group, LLC