If
your inheritance is cash, it is not taxable and is not reported on your tax returns.
For your further information, I have included the following:
If you
inherit property that produces income such as interest, dividends, or rent, that income is
taxable and reportable on your Federal and State returns.
If you
have received stock or a house, the sale is reported and income is taxable.
If you inherited an IRA (individual retirement account) or a qualified
plan such as 401(k), the amount is taxable according to the 1099-R you will
receive.
