topic Is my father's inhertitance to his children, after divided, after being gifted to us legally, sold and divided, something i have to claim as income? in Get your taxes done using TurboTax https://ttlc.intuit.com/community/taxes/discussion/is-my-father-s-inhertitance-to-his-children-after-divided-after-being-gifted-to-us-legally-sold-and/01/245499#M102933 Sat, 01 Jun 2019 20:07:55 GMT reneeabigelow 2019-06-01T20:07:55Z Is my father's inhertitance to his children, after divided, after being gifted to us legally, sold and divided, something i have to claim as income? https://ttlc.intuit.com/community/taxes/discussion/is-my-father-s-inhertitance-to-his-children-after-divided-after-being-gifted-to-us-legally-sold-and/01/245499#M102933 Sat, 01 Jun 2019 20:07:55 GMT https://ttlc.intuit.com/community/taxes/discussion/is-my-father-s-inhertitance-to-his-children-after-divided-after-being-gifted-to-us-legally-sold-and/01/245499#M102933 reneeabigelow 2019-06-01T20:07:55Z If the estate sold all the assets and you received the ca... https://ttlc.intuit.com/community/taxes/discussion/if-the-estate-sold-all-the-assets-and-you-received-the-ca/01/245505#M102935 <P>If the estate sold all the assets and you received the cash that resulted from the sale, then no. If an asset passed through to the inheritors and was then sold at a gain, then yes, the <I>gain </I>is taxable.</P><P>An inheritance is not a gift. A gift occurs during the donor's lifetime. An inheritance is passed on after death.</P> Sat, 01 Jun 2019 20:07:56 GMT https://ttlc.intuit.com/community/taxes/discussion/if-the-estate-sold-all-the-assets-and-you-received-the-ca/01/245505#M102935 Coleen3 2019-06-01T20:07:56Z