Search found 2 matches

by McMillion
Fri Feb 14, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is money liquidated from inherited mutual funds reportable to IRS?
Replies: 12
Views: 1321

Re: Is money liquidated from inherited mutual funds reportable to IRS?

Thank you all for the input. I asked the Executor (my BIL) and he said he wasn't sure about taxes. The stock mutual funds were liquidated and put into the deceased's estate account with a new EIN obtained by the Executor. The the Executor wrote checks of equal amounts to the deceased's children from...
by McMillion
Thu Feb 13, 2020 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: Is money liquidated from inherited mutual funds reportable to IRS?
Replies: 12
Views: 1321

Is money liquidated from inherited mutual funds reportable to IRS?

I received cash from the Executor of my Father-in-law's will. The cash, as I understand it, was from the sale of my Father-in-law's stock mutual funds (in a taxable account, not an IRA). Because my Father-in-law had no beneficiaries identified on his investment account, it took about 8 months from h...