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Deductions & credits
I received my deceased mother's portion........
Did you receive a tax reporting statement, such as a K-1 (1041)?
It is likely that the funds you received are not taxable if the sale of your grandparents' home resulted in no gain (or even a loss). You would need to ask the fiduciary of the estate (the person responsible for settling the estate and preparing any income tax returns due) for clarification.
‎February 1, 2023
4:23 PM