- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
State tax filing
For Federal tax, only any increase in value between the date of death and the date you received the funds would be taxable since the inherited portion would not be taxed an a Federal rerun.
For example, if there was a savings account with a balance of 985 on the date of death and when you were paid it was worth 1,000, you would need to claim $15 interest.
The total will be included as income on your PA return if you are a resident of PA, since that state does tax inheritances.
If you are not a resident of Pennsylvania, it may be taxable on a non-resident PA return depending on the source, although the amount may be too low to require filing.
If you are using TurboTax, the program will let you know if you are required to file a state return.
**Mark the post that answers your question by clicking on "Mark as Best Answer"