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I got $42,000 from an inheritance. Is that taxable? Do I have to list it as income? Married, file jointly combined income $99,000 w/out the 42k. Thanks from Seattle.

 
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PaulaM
Expert Alumni

I got $42,000 from an inheritance. Is that taxable? Do I have to list it as income? Married, file jointly combined income $99,000 w/out the 42k. Thanks from Seattle.

A cash inheritance would not be taxable to you on your federal return. Inheritances of income producing property or inherited property that you sold (land, home) would be reported.

Only a few states have an inheritance tax. The state of Washington is not one of them.

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PaulaM
Expert Alumni

I got $42,000 from an inheritance. Is that taxable? Do I have to list it as income? Married, file jointly combined income $99,000 w/out the 42k. Thanks from Seattle.

A cash inheritance would not be taxable to you on your federal return. Inheritances of income producing property or inherited property that you sold (land, home) would be reported.

Only a few states have an inheritance tax. The state of Washington is not one of them.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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