reporting inheritance for taxes
Asked Feb 6, 2006, 09:26 AM
I am trying to clear up what to report on my individual tax form from a recent inheritance from a parent. I directly inherited
1 a teacher's pension fund lump sum settlement (I think it's considered like life insurance payout),
2 a life insurance pay out,
3 and an annuity cash out.
everything else was left to the estate which I will be benefector of half.
I understand some things are not reported as income, and some things are. Which of these would I need to report on my income tax (form 1040, do not itemize)