For tax purposes, I am a resident alien, but I am not a U.S citizen.
My mother and brother have sold our residential house in our home country. The house belonged to my father. When he expired, my mother became the owner with me and my brother as nominees. For part of the sale price, they have received as a cashier's check made out to my mother, brother and me by the buyer's bank from where buyer took the loan to buy the house. The cashier's check has names of all three of us.
My mother and brother want to open a Certificate of Deposit(CD) in my home country with the cashier's check. My mother and brother have never visited U.S and have no tax liabilities in U.S.
1. For U.S. taxes, do I owe any taxes or not since I was only nominee for the house?2. If I owe U.S. taxes, do i have to report the full amount of cashier's check which is U.S (20K USD) or just 1/3rd(7K USD) only since the cashier's check is made out to me, my brother and mother for FBAR filing http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR) 3. If I owe U.S. taxes on bank interest from the CD opened by my brother and mother in my home country, do I have to report full amount of interest earned or 1/3rd since I am one of the three holders in the CD on form 1040? 4. If no U.S. taxes are owed, since I was nominee of the house, what documents should I have to satisfy revenue service? Would registration documents of the property where my name is listed as nominee suffice? Or, would more things be required? P.S. We lived in the house for 10 years.