You'll need to sign in or create an account to connect with an expert.
generally cash received out of the decedent's estate as inheritance is not a taxable item -- you do not need to report anything. A K-1 is issued only when the Estate has income on which taxes are to be paid by the inheritors or similar pass through situations.
generally cash received out of the decedent's estate as inheritance is not a taxable item -- you do not need to report anything. A K-1 is issued only when the Estate has income on which taxes are to be paid by the inheritors or similar pass through situations.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
amy_meckley
New Member
abuzooz-zee87
New Member
RMI
Returning Member
tiffanyliudiamond888
New Member
samman2922
New Member