How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 577
Experience:  10 years experience
16356563
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

Do you have to pay 30% to the IRS on money inherited. year

Customer Question

Do you have to pay 30% to the IRS on money inherited. For the year 2014 taxes we paid over 30,000 since this time we received a letter that we would get back $1,042 because there was a error on our taxes that was in Sept but we have not received anything yell ease help!
Submitted: 1 year ago.
Category: Tax
Expert:  Richard replied 1 year ago.

Good morning. My name is ***** ***** I look forward to helping you.

Can you provide me a bit more information? How much money are we talking about? Also, was the inheritance from an IRA, 401k, or other retirement type account? Thanks.

Related Tax Questions