What is the name of your state? Connecticut
I received funds last year from the state of New York which were originally from my Grandfather who died over 30 years ago.
This week, the state comptrollers office sent me a 1099-B for the amount received which came from the sale of a mutual fund.
My question is: how do I report this on my taxes?
The amount is under $7000 and I expect it should be treated as an inheritance.
Do I enter it as a sale of a mutual fund with the purchase price the same as the sale price?
Thanks.
I received funds last year from the state of New York which were originally from my Grandfather who died over 30 years ago.
This week, the state comptrollers office sent me a 1099-B for the amount received which came from the sale of a mutual fund.
My question is: how do I report this on my taxes?
The amount is under $7000 and I expect it should be treated as an inheritance.
Do I enter it as a sale of a mutual fund with the purchase price the same as the sale price?
Thanks.