My husband received $11K from an inheritance from his uncle. It originally was to go to his father but since his father is deceased it trickled down to the children. Will we have to claim that on our federal tax return?
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My husband received $11K from an inheritance from his uncle. It originally was to go to his father but since his father is deceased it trickled down to the children. Will we have to claim that on our federal tax return?
No - inheritances are not taxed by the federal government. Depending on what state you live in, you may have to investigate whether any inheritance tax is owed your state.
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