Inheritance

Unfortunately, Turbo Tax does not give investment advice.  But whatever direction you chose, please remember, interest, dividends and capital gains will be taxable in the year earned or sold.

Take Jeff Bezos' advice : put the money into an emergency cash account at your bank.

@Mitch29 

Thanks. If I keep it as a cash account, is it taxed as income? Or at a different rate?

your inheritance is not taxed unless it came from a tax-deferred account such as an IRA.

I should have said savings account, not cash checking account.

you will get some interest with a savings account.

@Mitch29