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Feb 09th
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Simple tax query--inheritance E-mail
Mother passes away.
1) Adult daughter inherits total of $5000. cash. Is this taxable?
2) Adult daughter (age 55) inherits IRA of $5000. value. I understand she
MUST start taking distributions? Is this correct? If yes, must she do this
in current calendar year? Is this distribution taxable?
Mel
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  • Newsflash
    AP - More than 3 million people will have to wait until February to get their tax refunds because of Congress' late fix to the alternative minimum tax, the IRS said Thursday.
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