Legal Question in Tax Law in California

Where can I find the Law on Paying taxes on money received after death.

My father died on 1/13/05 he was 79 years old, no spouse, just 4 adult children, he left no will or estate and my father had no money. I cleared all of his debts and paid his taxes for 2004. Then two months after his demise. I received two commission checks that amounted to $40,000. Do I have to pay taxes on this money or can I just distribute it equally to my siblings? If so, can you give me case law or code for this. Thank You very much.


Asked on 4/21/05, 6:56 pm

2 Answers from Attorneys
Ken Koenen Koenen & Tokunaga, P.C.

Re: Where can I find the Law on Paying taxes on money received after death.

Were these income for your father? If so, they would need to be reported an an estate income tax form as income received after his death. The remainder can be distributed.

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Answered on 4/21/05, 7:10 pm
Donald Field Donald L. Field, Jr., Attorney at Law

Re: Where can I find the Law on Paying taxes on money received after death.

SEE:

http://www.irs.gov/businesses/small/article/0,,id=134986,00.html

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Answered on 4/22/05, 2:21 pm


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