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I have not worked any all year but have received an inheritance . Do I need to file with the IRS ?

 
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JulieR
Expert Alumni

I have not worked any all year but have received an inheritance . Do I need to file with the IRS ?

Generally, the property you inherit, such as cash, stocks, and real estate, is not taxable or reportable on a personal 1040 federal return. However, if you inherited an IRA, 401(k) or other retirement accounts you will receive a Form 1099-R from the financial institution handling the account and will then have to report this on your tax return

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JulieR
Expert Alumni

I have not worked any all year but have received an inheritance . Do I need to file with the IRS ?

Generally, the property you inherit, such as cash, stocks, and real estate, is not taxable or reportable on a personal 1040 federal return. However, if you inherited an IRA, 401(k) or other retirement accounts you will receive a Form 1099-R from the financial institution handling the account and will then have to report this on your tax return

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