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Money and Finances
Reply to "Inheritance/gift reporting"
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[quote=Anonymous][quote=Anonymous]You are cash basis tax payer. You should report in the year received. Your accountant will be better positioned to know if there is an exception to this rule (or even just a "best practice" used in the industry to avoid potential issues).[/quote] Thanks for the quick response. My current accountant and the other he referred us to (who supposedly deals with people having assets in foreign countries) were not really aware of the specifics of this reporting. We are looking for one.. [/quote]
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