vickieikermann
Jan 19, 2012, 09:58 PM
Hello! :O)
This past year, on June 30th, my mother passed away. She left my sister and myself a life insurance policy of approx. $15,000, which we split, 50/50. Will we have to pay federal income tax on this? Also, she passed away in CA and I live in AZ. For state tax, would I follow CA laws or AZ laws, and do you happen to know if I would need to pay state tax on this in either state?
Thank you so much for your help. Have an awesome weekend! :O)
Vicki Eikermann
This past year, on June 30th, my mother passed away. She left my sister and myself a life insurance policy of approx. $15,000, which we split, 50/50. Will we have to pay federal income tax on this? Also, she passed away in CA and I live in AZ. For state tax, would I follow CA laws or AZ laws, and do you happen to know if I would need to pay state tax on this in either state?
Thank you so much for your help. Have an awesome weekend! :O)
Vicki Eikermann