Tag: 'inheritance'
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From TurboTax
Do I need to report a cash inheritance?
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From TurboTax
What's the tax difference between a gift and an inheritance?
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From the community
I received a 1099-S for real estate transaction however this was an inheritance that we sold, not a second home. how do I handle this? Thanks for any help
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From the community
Are US Saving Bonds and their interest taxable if they were received as part of our inheritance?
We receive a large number of US Savings Bonds from my wife's parents when they passed on as part of our...
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From the community
I gifted my son raw land in a foreign country worth $19,000 23 years ago. My son sold the property in 2018. Do I owe the IRS any donor's tax?
I gave our son undeveloped land in a foreign country worth $19,000 23 years ago. The land was titled in...
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From the community
I received some money (cash) from the passing of a relative. I live in a state that taxes inheritance. Where do I enter that money in TurboTax on the state form?
I realize that the Federal tax doesn't count inheritance but I live in Iowa and they do. I am not seeing...
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From the community
Calculating FMV on Sale of jointly-held inherited home
I jointly inherited my parents home in May 2018 with three siblings (25% equal share). We sold it 5 months...
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From the community
My wife's father passed away in 2018, She received an inheritance (less than 8k) from him, and we received a 1099-r from his bank, Do we need to claim this on our taxes?
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From the community
Inherited Roth IRA from my mother. 1099-R box 7 lists distrib code T. If I call it an inheritance, TurboTax asks when she first opened the Roth. What if I don't know?
I don't know if she opened the Roth before 2014 or not. If I answer that she opened it after 2014, Turbo...
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From the community
I inherited a property with my brother & bought him out based on fair market value at the time. I sold the home 2 yrs later. Is the buyout amt included in my cost basis?