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Reporting funds received from deceased parent's estate

Where and how do I report this income?
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4 Replies

Reporting funds received from deceased parent's estate

If it is an inheritance,it is not taxed or reported.

Reporting funds received from deceased parent's estate

Money received from a deceased uncle’s estate, is it taxable?

Reporting funds received from deceased parent's estate

Inherited cash is usually not taxable ...however   since this is paid out of an estate then ask the trustee if you will be getting a K-1 form from the estate's return.  

DanielV01
Expert Alumni

Reporting funds received from deceased parent's estate

@Gigeegirl_1  Also, be sure of your state's taxation laws.  While an inheritance is not taxable to you on a Federal return, some states might tax the inheritance, particularly if it is not a linear relationship (an uncle may not be linear depending on your state's interpretation).

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