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.
Related Resources
Have you recently earned Bitcoin income from rising stock value? Explore the rules surrounding cryptocurrency-sourced capital gains and losses with H&R Block.
If you are selling items at a farmer's market, learn how to file your taxes with H&R Block. From cash income to bartering, these tax tips will help.
What is a closing disclosure? When you buy a house, you will receive a closing disclosure that can benefit you at tax time. Learn more at H&R Block.
