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Get your taxes done using TurboTax
Sorry about your mom. Maintain the final statement(s) for the funds while in her name. If there was interest it will need to be filed with her last and final return. If the sum(s) was below $10,000 there is no tax due on the inherited proceeds. If (I believe this is still true) the sum(s) was over $10,000 a gift form needs to be filed by the executor/administrator of her estate, however, still no inheritance tax.
May 13, 2022
2:21 PM
6,298 Views