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My husband inherited approximately $15,000.00 from a distant cousin in May. The attorney handling the estate paid all the heirs by check. He said all the taxes, both federal and state, were paid by the estate. How do we report this on our federal forms, or do we even have to since the taxes were paid? I would appreciate any advice you can give me? Thank you.
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My husband inherited approximately $15,000.00 from a distant cousin in May. The attorney handling the estate paid all the heirs by check. He said all the taxes, both federal and state, were paid by the estate. How do we report this on our federal forms

You don't. Inheritances are not taxable income at the Federal level. If anything happened with the estate that affects your return you'll get a K-1 from the estate.

Phil
Rule Your Retirement Home Fool
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