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Generally, inheritance money is not taxed, however income derived from an inheritance is.
If for somereason a portion of your inheritance is considered taxable, the administrator will provide you with a Schedule K-1. A Schedule K-1 is similar to a Form 1099 in that it tells you how much income you have to report on your individual tax return. Income reported on Schedule K-1 is reported on Schedule E, which should be attached to your individual return. Principal received from the estate is not reported on your individual return.
If you have already filed your return, you will now have to file an amended return.