rubyreder
Apr 21, 2009, 02:37 PM
I live in Ky. And have a friend that inherited $10.000. She has not told her husband about this money. Will she be charged any taxes for this sum?:eek:
MukatA
Apr 22, 2009, 02:12 AM
There is no federal tax on inheritances. It is not an income.
Read: Your U.S. Tax Return: Tax on Inheritances (http://taxipay.blogspot.com/2008/02/tax-on-inheritances.html)
AtlantaTaxExpert
Apr 22, 2009, 09:24 AM
Your friend MAY want to check with the Kentucy tax department to see if there are any STATE inheritance taxes.
I doubt it, but I do NOT practice in Kentucky, so I do not know for sure