2007-01-16 12:50:26 · 6 answers · asked by M W 1 in Business & Finance ➔ Taxes ➔ United States
Estates of less than US$2M are not taxed.
2007-01-16 13:00:23 · answer #1 · answered by Jon A 4 · 1⤊ 0⤋
You don't. Her estate does. It's just like if she was alive. If you take out 50K you have to pay like 10K taxes on it. After her estate has paid all taxes, then the money is disbursed to you. And then there are your side of the inheritance taxes...just a few percent depending on the state
2007-01-16 20:56:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, you do have to pay taxes. This money is considered income and taxes on it will depend on how many dollors you received. Whoever does you taxes in Feb or March will help you determine this
2007-01-16 20:57:17 · answer #3 · answered by Bonduesa 6 · 0⤊ 0⤋
If her estate isn't settled yet then I would assume it would go on next years taxes taxes and not this year. I am not sure on that though.
2007-01-16 23:08:47 · answer #4 · answered by eccentricmommy 3 · 0⤊ 0⤋
Thats awful your mom passed away and all you care about is your mother! THATS AWFUL!!
2007-01-16 20:53:28 · answer #5 · answered by mag48 3 · 0⤊ 0⤋
There are alot of hidden questions in that.
2007-01-16 20:52:29 · answer #6 · answered by engineer46526 4 · 0⤊ 0⤋