Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.
How are you today?
If you receive an inheritance, there is nothing to report on your tax return, and no reporting is necessary at all unless you have received more than $100,000 from a non-US person, and in that case you file form 3520.
The person who passes away will have an estate tax return filed after their death and the tax is assessed on the estate, but there is no tax if the estate is under $5.2 million
Do you have any further questions? If not, please rate my response as "excellent" so that I may receive credit for assisting you today