AnnetteB6
Expert Alumni

Tax help for military filers

It depends on the nature of the income from the Vanguard account.  If the money was held in the account in the form of cash and that is what you received, then you do not report it on your tax return.  Cash inheritances are not taxable as income to you.

 

If the money was in a retirement account (such as an IRA), then you will receive a Form 1099-R to report the distribution on your tax return.  You will enter the information from the Form 1099-R to determine the amount that is taxable.

 

If the money was being held in stocks that were sold and then the funds were distributed to you, then you should receive a Form 1099-B to report the stock sales on your return.

 

 

@farrell3963

 

 

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