https://ttlc.intuit.com/community/taxes/discussion/re-inheritance/01/3074454#M1123433 <P>Hi,&nbsp;<a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/1028272">@elath1169</a>&nbsp;, thanks for the question! To answer, i<SPAN>nheritances are not considered income for federal tax purposes, whether you inherit cash, investments or property.&nbsp; However, any subsequent earnings on the inherited assets are taxable, unless it comes from a tax-free source. You will have to include the&nbsp;interest income&nbsp;</SPAN><SPAN>from inherited cash and dividends on inherited stocks or mutual funds&nbsp;in your reported income.</SPAN></P> <P>&nbsp;</P> <P>Hope this helps, please let me know if this raises additional questions!&nbsp;</P> Wed, 28 Jun 2023 17:42:21 GMT JBedford 2023-06-28T17:42:21Z https://ttlc.intuit.com/community/taxes/discussion/inheritance/01/3074445#M1123432 <P>At what point do we need to pay taxes on inherited property and monetary gifts from a deceased family matter when estate hasn't been formally settled. It's been a year since his passing.</P> Tue, 24 Feb 2026 06:40:34 GMT https://ttlc.intuit.com/community/taxes/discussion/inheritance/01/3074445#M1123432 elath1169 2026-02-24T06:40:34Z https://ttlc.intuit.com/community/taxes/discussion/re-inheritance/01/3074454#M1123433 <P>Hi,&nbsp;<a href="https://ttlc.intuit.com/community/user/viewprofilepage/user-id/1028272">@elath1169</a>&nbsp;, thanks for the question! To answer, i<SPAN>nheritances are not considered income for federal tax purposes, whether you inherit cash, investments or property.&nbsp; However, any subsequent earnings on the inherited assets are taxable, unless it comes from a tax-free source. You will have to include the&nbsp;interest income&nbsp;</SPAN><SPAN>from inherited cash and dividends on inherited stocks or mutual funds&nbsp;in your reported income.</SPAN></P> <P>&nbsp;</P> <P>Hope this helps, please let me know if this raises additional questions!&nbsp;</P> Wed, 28 Jun 2023 17:42:21 GMT https://ttlc.intuit.com/community/taxes/discussion/re-inheritance/01/3074454#M1123433 JBedford 2023-06-28T17:42:21Z