Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
lefthand1987
New Member

My dad's set to receive an inheritance around $30,000. He does not want this $ given to his name. My aunt (executor) is putting in my name. Who is taxed? Is this a gift?

If my aunt is the executor, can she put the $ in my name instead of my dad's without it being considered a gift? If it is a gift, who does the tax liability fall on?!
3 Replies
MinhT
Expert Alumni

My dad's set to receive an inheritance around $30,000. He does not want this $ given to his name. My aunt (executor) is putting in my name. Who is taxed? Is this a gift?

Inheritance is not taxable. And if your dad is an heir, it is best that the money is paid to him.

He does not have to report anything on his tax return.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
lefthand1987
New Member

My dad's set to receive an inheritance around $30,000. He does not want this $ given to his name. My aunt (executor) is putting in my name. Who is taxed? Is this a gift?

My dad cannot have it put in his name for multiple reasons. My aunts attorney said that she can put it in whoever namenshe wants to but she seems to think that this will be considered a gift. I am trying to figure out whether it will be or not, and if so, is it taxable?
MinhT
Expert Alumni

My dad's set to receive an inheritance around $30,000. He does not want this $ given to his name. My aunt (executor) is putting in my name. Who is taxed? Is this a gift?

If the attorney considers that it is a gift from your father, then that gift is not taxable for you and you do not have to report it on your tax return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.62m
Discussions

Manage cookies
v