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J
jcm4art
April 8, 2025
Question

Do I need to pay tax on money I inherited in 2024?

  • April 8, 2025
  • 1 reply
  • 0 views
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    1 reply

    SusanY1
    SusanY1
    April 8, 2025

    It depends.  If it was just cash (say transfer of a bank account), you won't owe any federal tax.  

    If it is money that came from an IRA or the sale of assets such as stocks, bonds, or property then you will likley have some tax on the income or the gain on the sale of the assets. 
     

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