Inheritance taxes

My husband and I along with his two sisters are in the process of receiving money from their father who is selling off his junk car business. Since this is an inheritance will taxes need to be paid?

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Submitted 213 days ago...

08gti

New User (8)

It most likely depends on if the one giving the money is still alive. "inheritence" usually incorporates one being deceased passing on to the living. if he is still iving and seling his business, then he is merely giving you money generously. just like young teenagers asking parents for money for lunch, or for car insurance, thats a giving not an inheritence.

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