Which turbo tax should I use if I received an inheritance in 2017?
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Which turbo tax should I use if I received an inheritance in 2017?

 
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Which turbo tax should I use if I received an inheritance in 2017?

What kind of property?

That depends upon the type of property you inherited.  If it was real estate,cash, or stocks the good news is that inherited property is not taxable to you when you receive it.   Any tax that is owed would have been paid by the estate.  So if you just inherited property and did not sell it, there is nothing to report on your taxes.

 However, once you inherit property it becomes yours and any income generated from the property is taxable to you.  (Interest from the bank where you deposited your inheritance) also  if you inherited a business that was ongoing, and you are now the owner-you would have to file a return to report the results of that business.

Likewise if you inherit property and sold it, you would then need to report the sale.  

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