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Jon Andrews
Jon Andrews, Certified Public Accountant (CPA)
Category: Tax
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Experience:  I deal with all levels of tax planning and controversy - from the ordinary to the complex.
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I inherited $42,000 from my aunt in kentucky - what ...

Resolved Question:

I inherited $42,000 from my aunt in kentucky - what percentage of this amount do I have to claim on line 21 of form 1040
Submitted: 8 years ago.
Category: Tax
Expert:  Jon Andrews replied 8 years ago.


If some part of that money came from an IRA or other pension account, it might be taxable. However, if it just came from her personal funds, no part is taxable.


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