Will I have to pay taxes on cash inheritance?

tanyacowan
tanyacowan Member Posts: 2 Newcomer
edited October 2024 in Income

I inherited cash amount from my aunt's passing, she lived in California. Will I have to pay taxes on that amount?

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Best Answers

  • AlexO
    AlexO FreeTaxUSA Agent Posts: 103
    Answer ✓

    Hello, tanyacowan!

    That's a great question!

    Inheritances of nontaxable. You will not need to pay income tax on the cash inheritance.

  • tanyacowan
    tanyacowan Member Posts: 2 Newcomer
    Answer ✓

    Awesome, thanks so much!

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