turbotax icon
turbotax icon
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Yes No
Cfgjrg7474
New Member

Inheritance of nursing home settlement trust account

We inherited funds from a nursing home settlement trust account. My brother was injured in a nursing home. Do we report this as income and do we pay taxes on it?

posted
2 weeks ago
last updated ‎April 09, 2025 11:20 AM
0
2
455
Reply
Bookmark Icon
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies
DavidD66
Expert Alumni
Expert Alumni

Inheritance of nursing home settlement trust account

No, you don't have to report it as income, nor do you have to pay tax on it.  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
2 weeks ago
0
1
438
Reply
Bookmark Icon
Cfgjrg7474
New Member

Inheritance of nursing home settlement trust account

Thank you for your quick response!

 

2 weeks ago
0
422
Reply
Bookmark Icon

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post

Featured forums
Taxes
Lower Debt
Investing
Self-Employed
All topics
Live Assisted: Get answers to all your tax questions! Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Live Assisted. Explore your options!
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question

Related Content

darichmond23
Cfgjrg7474
lrubin28
mred6351
gkravitz

Did the information on this page answer your question?

thumb-up Yes
thumb-down No
close icon
checkmark

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

and start working
on your taxes

File your taxes, your way

Get expert help
or do it yourself.

Get started
close icon
icon help

Access additional help, including our tax experts

Post your question

to receive guidance
from our tax experts and community.

Connect with an expert

Real experts - to help
or even do your taxes for you.

Get started