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-   -   Cash inheritance (https://www.askmehelpdesk.com/showthread.php?t=30348)

  • Jul 27, 2006, 01:37 PM
    Niecemom
    Cash inheritance
    My two children inherited $30,000 from my fathers estate. I am wanting to know if it is taxable income since I have called the IRS and tax preparers and gotten confilicting information.:confused:
  • Jul 27, 2006, 05:15 PM
    admartin
    Inherited money is not taxable monies at all
  • Jul 28, 2006, 05:54 PM
    AtlantaTaxExpert
    If any taxes were due on your father's estate, they were paid by the estate before the $30K was disbursed.

    You have nothing to worry about.
  • Jan 19, 2008, 10:19 PM
    877-Go-Heir-Cash
    You could have also received a cash advance on the inheritance.
  • Jan 19, 2008, 10:45 PM
    AtlantaTaxExpert
    Such a cash advance is a loan, and such a loan would have fees and interest, Beware of them!

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