Hi @badams2011 !
My condolences to you.
If this is an IRA, the amount of tax you pay will depend on the distribution option you take. The options available depend on the type of beneficiary that you are. If you are a regular Designated Beneficary you must distribute all assets by the end of the tenth year after the year of death. If your dad had reached the age of taking Required Minimum Distributions (RMD) before he died, you will be required to take at least those, if you don't take the entire distribution all at one time. The tax consequences could be lessened if you take the bulk of the distribution in a year that you have the lease amount of other taxable income. The amount of tax will always depend on your overall taxable income rate.
If this is a retirement plan other than an IRA, you would report the income as it was being reported by your dad. Here is a link to an IRS resource that may help:
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-beneficiary#:~:text....
You may want to seek the advice of a financial planner to maximize your benefit from this inheritance.
Hope this helps!
Cindy
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