 Can an adult child be considered a qualifying relative? |
| If you financially supported your adult child with over $10K, will you qualify for head of household ... |
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 Can I get tax money from the previous year? |
| Hello I worked in 2006-2007 and i made around 6,000 each year. I had tax's taking out of my check. But my dad told me not to file my tax's and this year i plan to file. Is there any way I ... |
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 Got a 1099 form for money my brother gave me? |
Hi,
Last summer we were in foreclouser, big time cc debt just no way out. Well i had to swallow my pride and discussed how hot water we were in. my grand father, then my father both now ... |
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 How do you claim a domestic partner on your taxes? |
Additional Details
we are engaged, but wont be married for at least a year. he doesnt get medical benefits where he works and i need to put him on mind...... |
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| My friend's W2 has no federal witholding on it?What could be the reason? |
| He didn't get a federal tax return because they didn't hold anything...why didn't they hold any money?... |
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 WHAT SHOULD I CLAIM ON MY W-4? |
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 I haven't received my second W-2 yet...? |
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 Is it legal for mother and father to each claim a child on taxes? |
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 What will happen if i dont pay my income tax? |
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 Can I claim my girlfriends kids as earned income credit if she don't? |
| My Gf didn't work enough last year to even file taxes. One of her friends that does taxes on the side said I could claim them as EIC since they lived with me and I supported them all last year.I ... |
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 I heard that Bushes tax checks were being sent out when should the people get them? |
Additional Details
my husband and I earned 45 grand last year we have 3 children can anyone tell me what to expect if anything?... |
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 I Have A Job That Pays ALOT. I'm 16 going on 17 years old. What taxes am I supposed to pay? |
And when do I file to pay them?
I just want to keep myself out of trouble with the IRS. Or whoever keeps track of my money.
Additional Details
BTW, I live in Dallas Texas.... |
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 Can u help with information on tax credit and child tax plzzzzzzz? |
| hi, i am working part time, 16 hours a week on minimum wage.my partner works 18 hours a week,also on minimum wage. we have a 8 month old girl. am i entitled to anything? i am struggling as i worked ... |
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Dawn M | Is money inherited considered income? |
My mom received $9000.00 inheritance from her mother.The money was received from an bank account her sister and husband have managed for my grandmother.My mom is considered at poverty level.She is sixty eight years old and lives in Ga. |
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Gem
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The person who gets the money does not claim it as income.
If the estate qualifies for the death tax, it is taken before any money is paid to survivors.
And, unless your grandma owned more than $2 million in assets, there is no death tax (for now).
So, your mom is free and clear.
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Wayne Z
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Generally, No with one caveat: If the money was distributed from a 401k or Traditional IRA, it would be taxable to the receiver.
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ninasgramma
 |
Your mother will owe no tax on the inherited money. She will not enter this inheritance on her tax return. If she does not file a tax return, the inheritance does not trigger a requirement to file. |
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Judy1
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Not taxable. If it had been in a tax-deferred retirement account, and that's what she inherited, it would have been taxable when she withdrew the money. |
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chatsplas
 |
NO, it is NOT income to her, but an inheritance. There is no federal inheritance tax on this money, and most states have no inheritance tax for close relatives. The income earned by it, interest, dividends, YES, that is income. I am glad to hear your mother has received this money as it sounds like she needs it. |
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v b
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The only concern would be if your mom collects SSI. The additional money would suspend any SSI checks for a while. |
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src50
 |
No, the $9000 is not. However, if that money earned interest between the date of the death of her mother and the subsequent disbursement to your mom, that interest may be taxable income. |
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Jss
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There is no federal tax on inheritances. Most of the states do not tax inheritances. For your state, check at the state web site. For more information on inheritance taxation read: http://taxipay.blogspot.com/2008/02/tax-on-inheritances.html
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jfamethyst66
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I believe it's only income if it's over a certain amount. I received $32k from a bank account that my father had when he passed and because it was under $115K I didn't have to report it or pay taxes. The amount may vary from state to state but I don't think $9000 would qualify in any state.
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