If inherited stocks and mutual funds are not taxable, since they are reported on a K-1 to heirs, does IRS see them as income?
If you sell inherited stocks or mutual funds, at least some of the proceeds can be taxable income. You'll need to know the basis of these instruments to determine if they're taxable when sold.
If inherited stocks and mutual funds are not taxable, since they are reported on a K-1 to heirs, does IRS see them as income?
If you sell inherited stocks or mutual funds, at least some of the proceeds can be taxable income. You'll need to know the basis of these instruments to determine if they're taxable when sold.
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