My mother passed away in July 2024. She set up a life estate 20+ years ago and left the house to me. Everyone has lived in Massachusetts their entire lives. I am over 70 years old and have not filed federal or Massachusetts state taxes since I retired six years ago as my only income has been social security payments, a small amount of interest from bank accounts, and a little under $2,000 from her Required Minimum Distribution (RMD) from two retirement accounts.
Do I need to file federal and/or Massachusetts state taxes for 2024 given the fact my mother’s house passed to me as part of the life estate she setup?
Also, for my understanding, what income must I surpass to be required to file a federal return, and/or a Massachusetts state tax return? Again, my only income is social security (which I don’t think counts, right?), a small interest from a bank account, and around $2,000 from RMDs. Thank you very much.
