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March 5, 2025
Question

How do I enter cash inheritance and does it count as a financial asset

  • March 5, 2025
  • 1 reply
  • 0 views

I received a cash amount in the form of a check from my father’s lawyer. Turbo tax has promoted the question Did you own or control a foreign bank account, trust or financial asset in 2024? does this check count as a financial asset should I say yes?

    1 reply

    DoninGA
    March 5, 2025

    A cash inheritance is not reported on a tax return.  If you do not own or control a foreign account answer No.

    RegirockAuthor
    March 5, 2025

    Okay cheers thanks