@Opus 17 wrote:
....I agree that if the disclaimer was not done in a timely fashion, the daughters owe the income tax. However, the taxpayer disputes that the disclaimer was untimely. As I said, that may require an expert to look into.
Yes, I absolutely concur, 100%, with the above quoted statements.
However, the presumption has to be (it is actually a fact) that the custodian is unwilling to yield in their position. As a result, the only recourse would be legal action (hardly worth it, in all probability).
You might want to read the other thread in which @Tbsfca initially posted several messages in order to get a better picture of the context for some of the responses here.
Solved: Re: Handling of Disclaimer of inherited Real prope... (intuit.com)
