GeorgeM777
Expert Alumni

Get your taxes done using TurboTax

As a follow-up to the previous posts, inheritances are not considered income for federal tax purposes, whether you inherit cash, investments or property.   Therefore, you would not owe any tax on the home you inherited and thus, there would be no federal tax forms to complete.  

 

Just an fyi, any subsequent earnings on inherited assets are taxable, unless it comes from a tax-free source. 

 

@mo20

 

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