Re: will I have to pay taxes on cd from father when he died

will I have to pay taxes on cd from father when he died

my father had a cd in my name when he died for $18,000. he is not on my birth cert so I will I have to pay taxes on it . will I get a 1099 on interest. I live in RI

posted

Yes, since the CD is in your name, along with a 1099. You will need to report interest on Schedule B of your tax return.

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I had gambling winnings of $3200 this year and I paid my taxes at the casino and they were $800. My husband and I never have a tax liability. Will I get the 800 back?

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