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    jetters50's Avatar
    jetters50 Posts: 24, Reputation: 1
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    #1

    Mar 29, 2011, 07:16 AM
    Taxes for inherited money
    I live in Texas and my son is a 17 year old who is working and so will file his own income tax this year. He just received $2000 from his grandfather's estate after his death. Would I or my son be required to claim this inheritance gift as income on the tax form?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    Mar 29, 2011, 07:57 AM

    No - there is no need to report anything. Neither the federal government nor the state of TX have an inheritance tax.
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