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New Member
posted Jun 4, 2019 8:24:01 PM

I received $25,000.00 as an inheritance from my grandfather who passed away in Arkansas and I live in Texas. Do I pay tax on this money?

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1 Best answer
New Member
Jun 4, 2019 8:24:02 PM

No. Inherited money is not considered taxable income. Therefore you will not need to include or report this inherited cash on your income tax return. Also no AR state return is required related to this inherited money.

1 Replies
New Member
Jun 4, 2019 8:24:02 PM

No. Inherited money is not considered taxable income. Therefore you will not need to include or report this inherited cash on your income tax return. Also no AR state return is required related to this inherited money.