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If you just received cash, there will be no tax on your inheritance.
If you inherit something other than cash (i.e. investments, rental property, etc.) you will pay tax on any income that you receive from those income producing items that you inherited.
Please take a look at the following information:
https://ttlc.intuit.com/replies/3300476
If you just received cash, there will be no tax on your inheritance.
If you inherit something other than cash (i.e. investments, rental property, etc.) you will pay tax on any income that you receive from those income producing items that you inherited.
Please take a look at the following information:
https://ttlc.intuit.com/replies/3300476
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