I have a question about IRS inheritance issues. How do I report an inheritance I received by check?
Relative to IRS inheritance issues, if you inherited cash payable to you in a check, it’s usually not taxable.
If you inherited something other than cash payable to you via check, there might be IRS inheritance ramifications. Taxable assets could include an IRA that’s paying you income or property, depending on your basis.
Whether an inherited item is taxable will depend on the type of item you inherited.
Learn more about payroll tax and how it may affect you the next time you file, with guidance from the tax pros at H&R Block.
If a stay-at-home mom earned a salary, what would it be? Learn more about how much mom is worth at H&R Block.
Learn how much you can sell before paying tax with advice from the tax experts at H&R Block.
What is the cost basis of stock and other investments? Learn more about calculating the basis and get tax answers from H&R Block.