Question about U.S. taxes on Dominican acct

RGVgal

Bronze
May 26, 2008
1,314
38
0
Hi,

If a U.S citizen residing in the U.S. inherits property and bank accts in the DR, how does one report the income on their taxes? And does one have to pay the same rate as you would if you inherit in the U.S?

Thanks
 

Texas Bill

Silver
Feb 11, 2003
2,174
26
0
97
www.texasbill.com
RGVgal;

Best you get a professional Tax man on this problem.
You'll be safer in the longrun if you do.
The answer lies somewhere in the "instructions for form 1040", but one must be a "Philadelphia Lawyer" to interpret those meandering words.

Texas Bill