Legal Question in Wills and Trusts in Texas

My uncle died and I recieved over $50,000 as his sole beneficiary. I have the money in my personal checking account. Do need to declare this money on my income tax for this year?


Asked on 10/03/11, 12:09 pm

1 Answer from Attorneys
Bob Leonard Bob Leonard Law Group, PLLC

There is no income tax on an inheritance. If the estate had income during its administration, then there might be income tax owed by the estate. Of course, any income that you receive from the funds is taxable.

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Answered on 10/03/11, 1:55 pm


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