My brother died in March and left 2 money market acct and 1 CD in trust for me. The total of all 3 accts is $60,000. Do I have to claim that as income this year? I live in NY, my brother lived in FL
Asked on 1/23/12, 9:34 am
1 Answer from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
No, an inheritance is not income, unless it consists of tax-deferred income like an IRA account.
Answered on 1/24/12, 10:28 am
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