My mother passed away in January 2006. My sister and I inherited her property which we sold in 2007 and split the proceeds of the sale. Are we liable for California state and/or federal taxws on that money?

Total value of brother's estate is $125,000 and consists only of real property. There are five heirs and each will receive $25,000. There are no taxes due on the estate because it is so small. Will the heirs have to pay any federal income taxes on the money they receive?

I was recently awarded a $5.7million inheritance from a late uncle (all cash) and am curious of what the inheritance tax will be on such a large sum. I live in CA, but he lived in OR. If anyone can answer or direct me to where I can find the information, it would be appreciated. The internet has...

If an elder person living on Social Security, who has not been filing a Federal Tax form for years, receives an inheritance of $ 30 - 40,000 is there any requirement to file a Federal Tax form? To show that income?

Hi, Last year, I was working as F1 in OPT. As F1, I can exempt from society security tax and medicare tax. But the accounting company also exempted my Federal tax and told me that was the way to do it. I thought I could report my Federal tax later, so I let it go. But right now, I get my...