Coleen3
Intuit Alumni

Get your taxes done using TurboTax

I'm sorry for your loss. 

No, when cash transfers to an heir, it is not taxable. If it were stocks or a home that would have to be sold to realize a profit, then it would be taxable.

Only a handful of states (Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania) have some kind of inheritance tax. Refer to your state's Department of Revenue to see what the requirements are for filing inheritance tax

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