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Level 1
Nov 8, 2024 2:25 PM UTC
Question

Money received from estate

I received $20,000 from my brother's estate for expenses I paid out to help my father (the executor of the estate, and payer of the money) settle the estate. Is that taxable income? Do I need to report it?

2 replies

Level 15
Nov 8, 2024 3:10 PM UTC
No text available
Level 15
Nov 8, 2024 4:16 PM UTC

If you simply received reimbursement from the estate for estate expenses that you initially paid, that's not reportable income.