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Level 1
Nov 16, 2022 10:00 PM UTC
Question

Inheritamce

I live in Mass; my wife & I married filing jointly, will receive part of the proceeds of the sale of her late parents' house.  Together with cash we've already received, the amount will be about $200,000.  Do we owe tax?

    1 reply

    Alumni - Champ
    Nov 16, 2022 11:56 PM UTC

    Not on the 200K but on what that money earns for you.