Will I need to report any income in this case?
It’s less than $100K USD.
I guess I don’t know how inheritances are reported/taxed in the US
From a Federal perspective, no estate taxes will be due, since the total estate is less than the $11.7MM/person that was allowed for those dying in 2021. If they died in 2020, then the allowance is a slightly lower $11.58MM/person.
Some states tax estates at lower levels, but presumably if their state does tax estates at a lower level and an estate tax were due, the administrator of the estate would have taken care of that, since the tax should have been paid by the estate.
Six states (Iowa, Kentucky, Maryland, Nebraska, New Jersey and Pennsylvania) do tax the beneficiary on an inheritance, but most have exceptions for the kids and grandkids of the decedents. If your parents lived in one of those states, you should check with the administrator of the estate to see if you owe any taxes.
AJ