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margotod
New Member

I recieved cash from the state teasurer's unclaimed property. Is unclaimed property you recieved taxable? does it need to be reported?

 
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2 Replies
Anonymous
Not applicable

I recieved cash from the state teasurer's unclaimed property. Is unclaimed property you recieved taxable? does it need to be reported?

can't say because it depends on what it is.  should it be funds you left in a bank account for too long, it's your own money you're getting back - nontaxable except for any unreported interest income included.  could be inheritance - non taxable.   could be a state tax refund - may or may not be taxable. could be lottery winnings - likely taxable. 

I recieved cash from the state teasurer's unclaimed property. Is unclaimed property you recieved taxable? does it need to be reported?

The unclaimed funds are taxed in the same manner that they would have been if you had gotten them back then.   What did you claim ?   

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