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Claiming inheritance money?

My wife received inheritance money and we were told by an accountant to add to our income.
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2 Replies
MinhT1
Expert Alumni

Claiming inheritance money?

Inherited money is not taxable and is not reported on your tax return.

 

Income derived from the inheritance is taxable, such as interest. Distributions from inherited retirement plans are taxable.

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Claiming inheritance money?

Did she receive a 1099-R or a K-1?

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