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Get your taxes done using TurboTax
@brian94709 , cash inheritance is not considered capital asset and therefore there is no requirement to get FMV ( Fair Market Value ) at the time of the demise .
(a) you report your cash inheritance when it is constructively received by you and you use the "dollar -of-the-day" exchange rate or what the bank gives you at the time..
Does this solve you issue? Is there more I can do for you ?
‎August 13, 2023
2:45 PM