The U.S. government does not have any form of inheritance tax. Thus, an estate distribution than an heir receives as a beneficiary is inherited tax-free. Though an estate must report this income, it may also distribute the taxable income to heirs. The estate may distribute this income along with the inheritance..
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For the latest information about developments related to Pub. 970, such as legislation enacted after it was published, go to IRS.gov/Pub970. Educational institution's .
Anybody who gains an advantage and/or profits from something. In the financial world, a beneficiary typically refers to someone who is eligible to receive .