JO236
New Member

Get your taxes done using TurboTax

Since you are the beneficiary, this would be considered a gift or inheritance.  Unless it is a substantial amount, it would not need to be reported.  The important thing is to transfer the account in full over to you so it doesn't happen again in the future.  All future interest would be your responsibility.  Disclaimer:  I am not an attorney or a CPA but I have had to settle many estates unfortunately.