Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hello JA Customer,
If the funds were not included as part of the original gross estate, then they are not subject to any estate taxes, assuming that estate taxes even applied.
The recipient of these funds is not required to report the receipt of this money. If taxes would have been due, the funds would have been included as part of the estate and taxed at that time if estate taxes applied.
If this was helpful please press the Accept button.
Thank you JA Customer
As requested, your question has been relisted for a more accurate answer.
I do not need any additional information. I have put your question back on the open board for someone else to respond to. If someone else feels they need more information, they will let you know what they need.
Thanks for your patience in awaiting a new response.
Hopefully someone else can help you with this soon.
In the meantime, please do not continue to respond in this link, otherwise it just takes your question off the open list again where no one else is able to respond.