My wife died . A resident of NC, I am 75 and wonder what taxes I would have to report?? The house was in NC. Since her death I haved moved to MA. Thanks Paul
Hello, I will be happy to assist you with your question. Please note that I cannot provide legal advice – I can only give you information concerning the legal issues raised by your question. I DO NOT receive credit for my work until you rate my answer as OK service” or higher. Please DO NOT RATE MY ANSWER as "Bad service" or "Poor service" (or the 2 stars on the left if you see stars), as such a rating leaves negative feedback for me personally. Instead, if you feel one of those ratings would be appropriate, please reply to me via the REPLY or CONTINUE CONVERSATION. If I still can’t help, reply again and I will opt out, but don’t leave a bad rating for me.Your Answer:Unless her estate was worth more than $5.12 million, then no state or federal estate tax is due. There are no taxes on inheritance.Any income due on income earned prior to her death is reported and paid under her final income tax return. Any income since that time is reported and paid by you (assuming all property passed to you automatically and that no probate was required, which is the case if the home was the only property and it was owned jointly).Most likely, there is nothing for you to report, but I'll leave that determination to you based on the information I have provided.As noted above, if you need clarification, please do let me know. And, again, PLEASE DO NOT leave a bad rating for me. If you don’t like my answer and want to work with someone else, let me know with a reply and I will opt out.I do not receive credit for my work until you rate my answer as “OK service” or higher. Bonuses are always appreciated.If you later open a new question and would like my assistance, please begin the question with “To TMcJD….” This will ensure that only I answer the question. Thanks.
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