jalobe
inheritance tax
Ihave been getting conflicting answers on the question of whether or not to pay taxes on money left by a relative who passed away. I have been told that this money is really a "gift" and is not liable for Fed and State taxes. Also, we are currently pre-paying the "estimated tax" (in quarterly istallments) so as to avoid a penalty. I never heard of paying this years tax until the following year. is the government entitled to this money?
Hope someone has some answers--Thank You- "confused"
1 Answer
Dollybird
As you have not said, where u hv been getting conflicting answers from, wounder have you got legal advice ?
jalobe
Dollybird
| 14 years ago. Rating: 0 | |
Sorry I didn't give more info: We did not seek legal advice- just from our tax preparer, and it was the power of attorney for the deceased estate that claimed we shouldn't have to pay tax. This was a cash gift over the amount of $12,000. Hope this was more helpful. Thanks
Maybe to get legal advice be good. Do you have a letter stating you shouldent hv to pay tax, fr the tax preparer. Always good to hv written proof.
Top contributors in United States category
Unanswered Questions
2haywinbio
Answers: 0
Views: 13
Rating: 0
Buy Verified PayPal Account
Answers: 0
Views: 12
Rating: 0
az888vip
Answers: 0
Views: 11
Rating: 0
hhhsepg
Answers: 0
Views: 9
Rating: 0
SAOBET
Answers: 0
Views: 11
Rating: 0
TR88: The gioi giai tri da nen tang, thoa suc trai nghiem moi luc, moi noi
Answers: 0
Views: 8
Rating: 0
68rrorg
Answers: 0
Views: 24
Rating: 0
australianescor
> More questions...
Answers: 0
Views: 11
Rating: 0