What is the IRS form which will divide the tax liability of inheritance from a trust between the heirs?

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    The trust will tell you (via a Schedule K1 that you will receive sometime by March or so) how much money you received during the previous year and what the tax status is. Inheritances are not taxable income to the recipient, and any estate tax due on the inheritance will be paid by the estate or the trust before the money is distributed to the beneficiaries. – Dilip Sarwate Jan 4 at 3:53

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