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posted Jun 3, 2019 12:19:25 PM

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.

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1 Best answer
Intuit Alumni
Jun 3, 2019 12:19:26 PM

There is no tax on inheritances.

There is also no tax on gifts received.

1 Replies
Intuit Alumni
Jun 3, 2019 12:19:26 PM

There is no tax on inheritances.

There is also no tax on gifts received.