topic I received a cash distribution from my aunt's trust . Is it taxable in Retirement tax questions

I received a cash distribution from my aunt's trust . Is it taxable

seneca48 — Mon, 03 Jun 2019 20:20:52 GMT

My is deceased and her total trust has been distribution

Depends. How was it reported to you? Did you receive...

macuser_22 — Mon, 03 Jun 2019 20:20:54 GMT

Depends. How was it reported to you? Did you receive a 1099-R or K-1?

No

robynroepke — Mon, 03 Jun 2019 20:20:56 GMT

Generally speaking, an inheritance or gift is not taxable...

RichardG — Mon, 03 Jun 2019 20:20:57 GMT

Generally speaking, an inheritance or gift is not taxable income. However, you may be required to report a share of the trust's or estate's income on your tax return. Only the trustee or executor of the estate will know for sure, so you should contact that person.

If you do have taxable income from the distribution, you will receive a Form K-1 at some point. When you receive that form, report the information in TurboTax under the heading Business Items, Schedule K-1.