You'll need to sign in or create an account to connect with an expert.
As a general rule, inheritances are not subject to income tax, and do not get reported on your income tax return. The exception to that rule is for income in respect of a decedent, so if you inherited a retirement account or some other asset that would been taxed if paid to the deceased, special rules apply.
As a general rule, inheritances are not subject to income tax, and do not get reported on your income tax return. The exception to that rule is for income in respect of a decedent, so if you inherited a retirement account or some other asset that would been taxed if paid to the deceased, special rules apply.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
MS456
Level 2
pher
Level 3
pkck4321
Level 2
smithkastner
Returning Member
ksunberg
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.