Jason...thank you ! I knew this should be a simple process with a foreign inheritance of cash but I got all tangled up in the forms. You explained and demonstrated that it was as simple as I felt it should be.... THANK YOU !!!
@@JasonDKnott Only question I have - why should we tick 'initial return', even though the IRS instruction implies it's only for those reporting Trusts ? Again, much appreciation for the video - i spent days looking for something like this, everybody else just keeps talking about huge penalties, no value added
Jason, if my wife and I are filing a joint 1040, and she received a gift from a nonresident alien, do we need to file a joint 3520? Or should she only file a 3520. Part of this gift will be reported on 8938.
Great! But if his uncle would have also (in addition to the cash) gifted Adam Taxpayer $700 in Amex stock. Does Adam need to disclose the stock gift in Part IV 54? Even if it's below $5000?
Hello Jason, does the limitation of $100k applies to each individual or if we married filing jointly it means each individual can rec up to $100k to avoid filing requirement but total of both can be more than $100k?
