My brother passed away unexpectedly and I inherited approximately $30000 from his retirement plan. I have approximately $17000 in expenses, including unpaid credit cards, ambulance fees, insurance co-pays and attorney fees. Am I able to deduct any of these since I paid them out of the $30000 inheritance? Thanks!
You'll need to sign in or create an account to connect with an expert.
No, these are personal bills that you are using funds from inheritance to pay. There is not deduction except for the medical bills which could potentially be an itemized deduction if you have expenses over 7.5% of your gross income.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
ashleighlefranc
New Member
Rejected Federal
Returning Member
Shawn B1
New Member
TestEasyFirstName7
New Member
MsSlowky
Level 1