Tax and inheritance question from Germany to USA?

Question

I inherited 18,000 Euro's from my mother in Germany, and I believe that is not taxable in Germany according to my sister. I live in the US, and I was thinking the easiest way to access it is to open up a account with a card in Germany which I am supposed to do at my mother's bank. I just wanted to find out if this will cause me to have to pay taxes in either country? I was reading though that this money would not be taxed in the US either. Any suggestions?

Answer 1

Inheritances are not taxable to you in the US.

You do not have to fill out any forms because the amount is less than $100,000.

If you do open an account in Germany to hold the money, you will need to file a form TDF 90-22.1 each year that the balance is more than $10,000.  (The form--no tax-- is due 6/30 of the following year.)