Inheritance & Estate
“Do I report an inheritance as income on my taxes?”
An inheritance is often treated differently from ordinary income, so the answer usually depends on what was inherited and how it was received. Cash, investments, retirement accounts, or property can each have different tax treatment, and the reporting picture may also change if the estate produced income before distribution or if assets were later sold. The value reported for estate or probate purposes can matter too, along with any state-level rules that apply. In many cases, the main question is whether the transfer itself is taxable, or whether later earnings, gains, or distributions create a reporting issue. Going through your records with a CPA usually surfaces the answer in under an hour.
In your 60-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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