Inheritance tax from abroad My grandfather was born in Costa Rica however he was a US citizen living in the US for the majority of his adult life. He recently passed away and left my mother, who is also a US citizen, an inheritance in the form of a CD. The CD is in Costa Rica, my mother is the sole beneficiary and the CD is for over $150,000.
My grandfather sold property in Costa Rica about 7 years ago and immediately put that money in a CD and it has not been touched in those 7 years.
My mother would like to transfer that money to her US bank account, however we have questions about if the money is taxable. We have asked a few tax "professionals" and we have been given different answers, so hopefully someone here can help. Please let me know what the easiest and most legally cost effective way to do it. Thank you |