pk
Level 15
Level 15

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 ?