Carl
Level 15

Tax help for military filers

Basically, an inheritance is not taxable or reportable on any tax return. Yes, there are exceptions such as the inheritance of a tax-deferred retirement account. But while the inheritance inself may not be taxable or reportable, any accumulated earnings on that money that accumulated after the passing of the deceased, is taxable income to the beneficiary recipient.  If this is your case, then you will receive some kind of tax reporting document that you would be required to report on your tax return. If you received no such document, then you have nothing to report. However, if you are not sure then you need to contact the administrator of the account or funds and ask.