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Level 1
April 9, 2026
Question

Inheritance NJ

  • April 9, 2026
  • 1 reply
  • 36 views

I inherited money from a brokerage account and I am a Class C relative. How do I report that on my nj tax return

 

    1 reply

    M-MTax
    Level 15
    April 9, 2026

    See https://www.nj.gov/treasury/taxation/inheritance-estate/inheritance-taxfilerequirements.shtml

     

    The executor, administrator, or heir-at-law of the estate must file an Inheritance Tax return (if required) within eight (8) months of the date of the decedent’s death. If tax is due, the tax also must be paid on the transfer of taxable real or personal property within eight (8) months of the date of the decedent’s death.

    fanfare
    Level 15
    April 10, 2026

    If you are an NJ resident and pay an NJ Inheritance tax on an Inherited IRA, the NJ tax on taxable distributions from the IRA is set at zero until you have recouped the inheritance tax.

     

    @Kdbaker412