Search found 4 matches

by Dad67op
Tue Sep 22, 2020 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question regarding wife's inheritance
Replies: 20
Views: 1363

Re: Tax Question regarding wife's inheritance

Thanks for the insights all.

i appreciate your help
by Dad67op
Tue Sep 22, 2020 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question regarding wife's inheritance
Replies: 20
Views: 1363

Re: Tax Question regarding wife's inheritance

Thanks for your responses - we live in Florida.

Do I need to add the $300k to our income for 2020? :shock:
by Dad67op
Tue Sep 22, 2020 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Question regarding wife's inheritance
Replies: 20
Views: 1363

Tax Question regarding wife's inheritance

My MIL's passing last year left my wife with an Orlando Florida house and furnishings that once sold have added $300k to her bank account.

It's unclear to me how to calculate the taxes due - can anyone advise?

Thanks!