May 16, 2024
From what I know, cash inherited isn't taxable. Stocks you inherit get a step-up in basis. The bigger issue is inherited IRAs and 401(k) accounts, which I believe need to be "drained" in 10 years and may have tax consequences.
Written by Opher Ganel
Consultant | systems engineer | physicist | writer | avid reader | amateur photographer. I write about personal finance from an often contrarian point of view.