Recvd cash inheritance from trust of mother (home) who passed in NY state. Living in NJ , where do I report the distribution? My portion was 125k 0 Capital Gain from DOD

[ColeenD3]

If was paid to you in the form of cash, you don't report it. If they sold the investment prior to distributing to you, it is cash. 

[buick71]

Thank you for the quick reply. Ok , so the K1 I received means nothing???  Do I have to do a Sched D ?  There were no capital gains but may have been a slight loss.  What about NJ reporting? I am 99% sure I do not owe anything but how is it reported ( if necessary) on a NJ tax return? Thanks again.

[ColeenD3]

No, if you received a K-1 then something else is going on. You do have to enter it. Just enter the form exactly as it appears and the information will flow to the proper form.

[buick71]

Thanks : 

 The info from the K1 does not flow to the NJ Tax return, but I may be able to enter it manually with a lil difficulty. It did flow to the Federal Return.

Last question: Do I prepare a Sched. D for the sale, even if there was no capital gain as a beneficiary?  
Thanks