Welcome New User! ( Create Account | Sign In )

Our members earned over $6,000.00 last month! Join Us

Start earning today!

 

This Question has not been awarded yet.

Post your answer now!

Question

Submitted 656 days ago...

syl5600

syl5600

New User (1)

Ira inheritance

WE INHERITED $37000 IN THE FORM OF AN IRA. THE IRA WERE REDEMMED. HOW DO I ACCOUNT FOR THE MONEY ON THE TAX FORM. I KNOW THE MONEY IS INCOME ,BUT WHAT KIND OF INCOME

Share | Abuse |
 
Answers
Answer 1 / 1 - Submitted 656 days ago...

Mtnrescue

Mtnrescue

Brain (2,677)

Actually, with the change in laws, you only have to pay inheritance tax (estate tax) on assets over $2Million so from what I understand, you don't need to claim it.

Share | Link | Abuse
 
 
 
 

Answer This Question Now

Ira inheritance

If your Answer is chosen as the “accepted” answer, you will earn ongoing royalties on this thread.
Simply type your Answer in the box below and post your answer.


Email Subscriptions

Author adds clarification

All new responses

Related Questions