Question

Income question

I inherited a not taxable annuity which I cashed out. The annuity place said no W2 or 1099 was generated. Do I report this as income?

Generally, inheritance such as cash, mutual bonds, and real estate are not taxable. However,

An inheritance will be taxable to the beneficiary if he/she inherited a qualified retirement benefits such as IRA, 401(k) or other retirement account, received a distribution,, and the income was earned prior to the death of the decedent (deceased relative).
If the income was received after the death of the decedent, it would be taxable in the year paid.to the recipient or beneficiary.