Generally speaking, an
inheritance or gift is not taxable income. However, you may be
required to report a share of the trust's or estate's income on your tax
return. Only the trustee or executor of the estate will know for sure, so
you should contact that person.
If you do have taxable income
from the distribution, you will receive a Form K-1 at some
point. When you receive that form, report the information in
TurboTax under the heading Business Items, Schedule K-1.
