Inheritance From Mother Income Tax Question

by Tammy
(GA)

Inheritance From Mother Income Tax Question

If I am left an inheritance from my mother after she passed, do I have to file it on my income taxes? I am retired.

Inheritance

by Steve
(Colo)

I sold my share of property in 2011 that was left to my by my deceased parents in 2010. Do I claim this as income for 2011?

Inheritance From Grandfather

by June Richardson
(Fort Pierce, FL)

Grandfather put his house in a trust in 2001 before he died. He died in 2009 and I received $16,000. in 2010 after the sale of his house. The estate filed a return and paid a gift tax penalty before any monies were distributed. They sent a Schedule K for my return with an amount in deductions. Do I have to claim any of this money as income?

Inherited Investment Income

by Debbie
(New York City)

My husband recieved an inheritance when his mother passed away last spring. Most of the money was in the form of mutual accounts, which were transferred to his name and then liquidated.

We did not reinvest the money at the time, but put it into a savings account, thinking to use some to pay my son's college tuitiion over the next 3 years. Now he just recieved a 1099-B from one of the accounts indicating the gross proceeds.

None of the other accounts have done this, and have sent 1009s for interest only, which I can understand. My question is whether we have to pay income tax on this amount, is there some way to document that this was an inheritance, and should we have done something differently last year? And of course, is there anything we can do now to not have to pay taxes on this money?

Inheritance Reporting

My husband and three other siblings inherited a house from there mother that passed away in 2011. The house sold in 2011. We received a 1099-S from the bank. How do we report the $9,000 on the 8949 form and the schedule D form and on our 1040 form? Will we have to pay taxes on this? Please Help.

Sincerely,
Confused

Inherited Tax Return

If a 21 year old only made 3000.00 but he inherited 10000.00 does he have to file a return?

Inheritance Tax

by Debra A Mcdonald
(Glenwood Springs CO)

At what point do I have to pay taxes on a 2011 inheritance?

Inheritance Tax In NJ

by Greg
(Haledon, NJ 07508)

we inherited $100,000 from my brother in 2012. What is the Fed Tax and NJ state inheritance tax rate? Thank You

Inherited a House---Capital Gains????

by Steve Young
(Brandon, MS)

My 2 brothers and I inherited a house in May 2009. We sold it in April 2010. We had it appraised when our uncle died and when it sold and the vlaue was the same.
Do we need to report our money we received (closing lawyer sent us a 1099 S) and if so what type forms--Schedule D???

Inherited US Bonds

by Lin
(Saginaw, Mi.)

I inherited US. bonds and cashed them in this year. Do I have to pay income taxes on them.

Michigan Inheritance Law

(Michigan)

Hi, I am going to be bought out of my fathers estate (houses and property) this year and need to know if I will have to claim the money paid to me as income (taxable income on my tax return) for the tax year? I am unsure as I have some telling me no and some telling me yes...please help.

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