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-   -   My mother passed and left me 17000 and I am being taxed can they do that (https://www.askmehelpdesk.com/showthread.php?t=453810)

  • Mar 3, 2010, 07:10 AM
    srosscal
    My mother passed and left me 17000 and Iam being taxed can they do that
    Mother left my brother and sister and I about 17000. Can it be taxed?
  • Mar 4, 2010, 05:14 AM
    MukatA

    No, there is no tax on inheritance.
  • Mar 4, 2010, 05:19 AM
    Fr_Chuck

    Who is "taxing" you on it ?
  • Mar 4, 2010, 08:26 AM
    ebaines

    It depends - if the inheritance is in an IRA and/or 401(k), then yes, it is indeed taxed (as ordinary income to you as you make withdrawals).
  • Mar 4, 2010, 11:26 AM
    Five Rings

    Note e-baines comment for it is correct.
    If your Mom left you the proceeds of her retirement account or an annuity, or several other things all or a portion of it is taxable. This is called "Income in Respect to a Decedent" or IRD.
    See: http://www.irs.gov/pub/irs-pdf/p559.pdf
    Start at page 9.

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