Do i have to declare cash inheritance i received from a friends' family trust on my income taxes, (both parents are now deceased)?
i live in colorado and the trust is in the state of washington. i read somewhere that there are no income taxes on inheritance, but that may be different if it comes through a trust. is that true?
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1 Best answer
IreneS
Intuit Alumni
Jun 6, 2019 12:12:55 AM
Cash that is inherited is not taxable. It doesn't matter if it is distributed through a trust.
1 Replies
IreneS
Intuit Alumni
Jun 6, 2019 12:12:55 AM
Cash that is inherited is not taxable. It doesn't matter if it is distributed through a trust.