My husband's grandfather passed away many years ago, and we recently got some $ from German Claims program @ the US Treasury. His grandfather lived in Germany and was a schoolteacher there. I figured we would have to report this on our taxes. But I started doing our taxes today online and really couldn't find a place for it. I know I should probably ask an expert (like a CPA) but I was wondering if anyone knew.
2007-01-27 08:24:31 · 2 answers · asked by dms74 1 in Business & Finance ➔ Taxes ➔ United States
If this payment was considered a reparation for victims of the Holocaust, they are not taxable.
See IRS Pub 525, page 30. Here's a link: http://www.irs.gov/pub/irs-pdf/p525.pdf
2007-01-27 09:52:06 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
you can put it under other income line 21 on the 1040 form
2007-01-27 08:29:53 · answer #2 · answered by Ski_Bum 3 · 0⤊ 1⤋