DaveF1006
Expert Alumni

Deductions & credits

In general, a trust is a relationship in which one person holds title to property, subject to an obligation to keep or use the property for the benefit of another. The will in itself is not a trust but the executor is as defined by this definition.

 

You report any property you received from the estate, whether it is tangible or intangible property. In this case, you received cash so this all you would report. The IRS has no interest what property was liquidated in the estate prior to you receiving the cash.

 

 

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