Solved: Do I have to pay taxes on some money that was given to me after my brother died? It was from some money that he had in the bank.
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Do I have to pay taxes on some money that was given to me after my brother died? It was from some money that he had in the bank.

I do Laser Engraving as a business.  I am a retired carpenter but sometimes I do small handyman type jobs.  I do get a pension from my years as a carpenter.  I also get Social Security.

1 Best answer

Accepted Solutions
Level 4

Do I have to pay taxes on some money that was given to me after my brother died? It was from some money that he had in the bank.

There is no tax on inheritances.

There is also no tax on gifts received.

View solution in original post

1 Reply
Level 4

Do I have to pay taxes on some money that was given to me after my brother died? It was from some money that he had in the bank.

There is no tax on inheritances.

There is also no tax on gifts received.

View solution in original post

Dynamic Ads
v
Privacy Settings