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June 3, 2019
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Can i inherit property and or cash from my son?

  • June 3, 2019
  • 1 reply
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my son wants to liquidate and unload property and or cash to patents and siblings

Best answer by DoninGA

If your son is not deceased and gives you property or money then that is not an inheritance, it is a gift.  Gifts received from an individual are not reported on a tax return, regardless of the amount or value of the gift received.

1 reply

DoninGA
DoninGAAnswer
Employee
June 3, 2019

If your son is not deceased and gives you property or money then that is not an inheritance, it is a gift.  Gifts received from an individual are not reported on a tax return, regardless of the amount or value of the gift received.