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Taxes on an inherited annuity
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My father passed away in 2005 and bequeathed his annuity to me and my sister. The funds (approximately $16,000 each) were distributed in 2006 and his estate paid the Federal and Colorado State taxes on it before my sister and I received our share. Because I deposited the entire amount into the...
Tax on Inherited property?
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I inherited a home from my mother. The home was sold six months from the time of her death, and no improvements were made on the home. Do I have to pay capital gains tax?
Tax on Inherited Money in Canada
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Does a new permanent resident of Canada (immigrated to Canada for less than a year) have to pay taxes on his/her inherited money when he/she wants to transfer it to Canada? I would appreciate any insight on the matter. Regards
Paying taxes on inherited annuity
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My brother and I were beneficiary of an annuity. I understand we pay taxes on the taxable amount listed in box 2a of the 1099. My question is... do I treat this as income adding it to myearned income and possibly raising my tax bracket, or do I pay taxes based on the earned income bracket? ...
Do I pay tax on inherited property sold?
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My brothers and I (4 of us) each inherited equal portions of my mother's house when she died. We sold the house shortly after the estate was settled and each of us received ~ 18,000 (there was no mortgage). Now, I am aware that any gain is taxed as long term no matter how long we owned it, since it... View more questions Search
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