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My father added me to a savings account of s. s reasoning is

My father added me to a savings account of his. His reasoning is that I can go and take it out right away so it doesn't go thru probate. My question is - will this be taxable income to me? I would not need the money right away and I'm ok with going thru the probate process. The amount is around $90,000. His total estate would be under $500,000

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Robin D.

Vocational, Technical or Trade School

 
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My elderly mother has a savings account on which I am

My elderly mother has a savings account on which I am co-signer. If she passes away, what would be my income tax liability for the substantial amount of money that is in that account?

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Robin D.

Vocational, Technical or Trade School

 
20,252 satisfied customers
I will be inheriting $147,000. What will be the tax rate on

I will be inheriting $147,000. What will be the tax rate on this amount in state of NY and I am 60 years old now.

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Robin D.

Vocational, Technical or Trade School

 
20,252 satisfied customers
Is there any cases that a giver of a gift or a recipient of

Hi,Is there any cases that a giver of a gift or a recipient of a gift have to pay taxes?What about inheritance? Do I have to pay taxes if I receive an inheritance (assuming the person deceased is not an american citizen), or should I only have to report it.Thank you

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Robin D.

Vocational, Technical or Trade School

 
20,252 satisfied customers
I live in the house tat I inherited. Do I get a break on PA

I live in the house tat I inherited. Do I get a break on PA inheritance taxes?

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Robin D.

Vocational, Technical or Trade School

 
20,252 satisfied customers
We spoke yesterday and I do have a new question for

Hi We spoke yesterday and I do have a new question for clarification

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
Is trust property subject to a death tax?

Is trust property subject to a death tax?

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Lane

JD, MBA, CFP, CRPS

Doctoral Degree

 
16,298 satisfied customers
I was the beneficiary deceased father's IRA ($21,233),

I was the beneficiary for my deceased father's IRA ($21,233), checking account ($1700)and an annuity ($4000) in 2016. what will be my tax obligations on these distributions. I am going to split the distributions with my other two siblings (3 way equal split).

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Richard

Owner

Doctoral Degree

 
45,896 satisfied customers
Can I loan my daughter to pay off her mortgage and forgive

can I loan my daughter to pay off her mortgage and forgive the debt when I die

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Richard

Owner

Doctoral Degree

 
45,896 satisfied customers
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