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QUESTION DETAIL
Related User
Votes
I recieved money from a relative's inheritance and used the funds to purchase a home. Do I need to claim that as income?
ANSWER
The BIDaWIZ Team's Answer:
No; the inheritance is not subject to income taxation. If it was subject to estate tax,
the inheritance [estate] tax would, generally, have been paid, by the estate executor,
before distributing any estate proceeds.
