rjs
Level 15
Level 15

Deductions & credits

What did you do with the $5,000 remaining in your wife's account after you paid off the car loan? Did you inherit the account? Is it now yours? If so, you don't enter it anywhere. An inheritance is not taxable income and you do not enter it on your tax return.


What kind of account was it? A bank account? An investment account? Something else?