My father was a non-resident alien who owned U.S. real estate. Do we need to file Form 706-NA?
My father recently passed away. He was a citizen of Mexico and never lived in the U.S., but he owned a vacation condo in Texas worth about $400,000. He also had a U.S. brokerage account with about $150,000 in U.S. stocks. I'm the sole heir. Do we need to file a U.S. estate tax return? I've heard that non-residents only get a $60,000 exemption which seems shockingly low compared to the $12 million exemption for U.S. citizens.
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