TaxAudit Blog

Tag: inheritance tax

Money background with one 100 dollar rolled up as a heart

My minor daughter was a beneficiary for her uncle's savings account. Does she need to report it as income?  Are there tax implications if she gifts the money?

Read More ›

House with money stacks next to it

I'm inheriting $44,000 from my father's house being sold in New York. I just want to know how much tax, if any, would I have to pay in South Carolina. Thank You

Read More ›

Sold Sign

Father died 30 years ago. Stepmother just sold house and children split father's portion of sale (after filing of an affidavit of heirship). Do we owe taxes?

Read More ›

House with person doing paperwork in the background

To know if your home inheritance is taxable income you will need to start by figuring out what your step up in basis is - the property value when someone dies.

Read More ›

SEARCH

This blog does not provide legal, financial, accounting, or tax advice. The content on this blog is “as is” and carries no warranties. TaxAudit does not warrant or guarantee the accuracy, reliability, and completeness of the content of this blog. Content may become out of date as tax laws change. TaxAudit may, but has no obligation to monitor or respond to comments.