DianeW777
Expert Alumni

Investors & landlords

No, you do not pay any taxes on your personal income tax return for inherited property.  If you rent it or sell it then it will become a taxable event.

 

Inheritance tax is determined by the state, however the is no inheritance tax for the federal return.  Check your the person who handled the estate if necessary.

 

@lauratax70-

[Edited: 03/16/2024 | 2:35 PM PST]

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