Is inheritance money counted as income by the IRS?

[Jiame75]

Can somebody tell  me as inheritance money is report it to the IRS?

[Just-Lisa-Now-]

Depends on what you inherited.

You'll have to hit Google up for some specifics.

[skyking535]

He/she said MONEY!

[Just-Lisa-Now-]

Was it money from a retirement account? Money from stock sales? Money in a savings account?

Not all "money" is treated the same for tax purposes.

[dd4vols]

just put all of the 'money' in a Kroger sack and send to closest IRS office.... just to be safe, you know..since you don't know....

[DaveS]

Money inherited by a beneficiary is not counted as income.   However, if they receive a K-1 from a 1041 there maybe :  interest income, dividends, capital gains, and other income to be reported on their 1040.

[IRonMaN]

Um, if that money came from an IRA, I’m pretty sure someone is going to owe some tax money on that inherited money.  But If all of that inherited money was sitting in a Kroger bag in the dearly departed’s freezer, I’m pretty sure that freezer money is going to be free money.

[oakhillsal]

Gee, all I heard was a "beep beep" before the anvil hit me.....

[IRonMaN]

That &^$##^&!!@ roadrunner is a menace to society.