I received a 1099-Misc for a distribution of inheritance. As I understand, inheritance is not taxable income. Is there any circumstance where it would be taxable?
I spoke with the attorneys office, and was told that the primary source of the inheritance was from real estate that was sold. I was told that taxes were paid by the estate. They said to file this "Not my Interest to Pay" and reference the TIN for the Payer. If this is correct, how is this done using TurboTax?
Thanks for any thoughts.
