hurry!
2007-06-21 05:38:18 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you have inherited a large sum of money and the money is in a trust you could ask the trustee to send you some of the principle. That money would generally be tax free!! Good luck.
2007-06-21 05:42:51 · answer #1 · answered by ? 6 · 2⤊ 0⤋
Some types of money you'd get isn't taxable, such as a gift or an inheritance.
If you get a check from a job, or from a gambling win, then it's taxable.
2007-06-21 12:57:26 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Depends upon what the check is for. More details are needed!
2007-06-21 12:53:01 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
If the check is written to you for less than $600 it will not be taxed (for the whole year).
I mean that you can't exceed $600 from the same source for the whole year.
2007-06-21 12:42:23 · answer #4 · answered by csucdartgirl 7 · 0⤊ 5⤋