Legal Question in International Law in France

Re: inheritance tax

The question is not entirely clear. I understand that a US citizen has inherited a portfolio presumably of stocks and bonds. It is not clear if you are asking whether there will be a US federal estate tax on what has been inherited or if you are asking if there will be a US income tax on the income from the portfolio. The U.S. bases its income, gift, and estate taxes on nationality. The federal estate tax is due by the deceased's estate. If the deceased was not a US citizen or a lawful permanent resident of the US and if none of the assets were situated in the U.S., then there would be no federal estate tax due. The US citizen who receives the property would then only owe income tax on the income received from the portfolio.

RPS