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Level 1

My late grandfather/s house was sold by his trust. It was sold & the money was distributed. Do I have to pay taxes on my share and if so how do I figure out how much?

After my grandfather died the trust became the owner of hos house.  They sold it and distributed the money to several beneficiaries.  Do I have to pay taxes on the amount I received and if so how do I figure out how much?

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Level 20

My late grandfather/s house was sold by his trust. It was sold & the money was distributed. Do I have to pay taxes on my share and if so how do I figure out how much?

Generally, an inheritance is not taxable or reportable on any tax return, ever. Of course, there are exceptions. But for the sale of this house, the trust "should" have paid all taxes and other debts *before* anything was distributed. If so, then you have nothing to report on any tax return concerning this.