@Ford2018 wrote:
I had 1099 forms for all the inheritance I received. It was put into my account and then my mom wanted my brother and I to split the amount. Is the taxable amount the total amount I pay?
What you do with the money makes no difference. Giving it away would simply be a non-reportable gift from you. If your name and SSN is on the 1099-T then you are responsible for the tax. (Hint: Adjust the amount that you want to give then to cover the tax).
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
