my brother inherited some money which came from some CDs. at the time he inherited the money, he was a minor, so the money was put into a minors trust account at a different bank where the CDs originated from.
the day he turned 18, he cashed out the minors trust account.
to this day, he has not paid any taxes on the money.
should he have paid taxes when he cashed out the account? or is he going to have to pay taxes when he does his taxes this year?