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Wondering if you can help with an estate tax question. 2017.
wondering if you can help with an estate tax question … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
How do I find out if an inherited annuity is taxable or not?
How do I find out if an inherited annuity is taxable or not? We inherited 26,000 in annuities from my father in law. We went ahead and filed 1040 ES right away and paid federal and state taxes. We are… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
Inherited funds from an estate that did not earn income.
Inherited funds from an estate that did not earn income. Estate was424000. Divided between 3 soblings. Do we have to claim this as income or does it fall under class a.… read more
Stephen G.
Stephen G.
Sr Income Tax Expert
Bachelor's Degree
7,531 satisfied customers
My father recently passed away, and I am the executor of s
Hi, my father recently passed away, and I am the executor of his will, and basically inherit all assets. In addition, to the will, my father also named me as the beneficiary of several annuities, and … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
Lev - I am the sole beneficiary of my father's will and
Hi Lev - I am the sole beneficiary of my father's will and trust. I inherited a total of $109,523 from his estate for tax year 2013. The IRS is stating that I owe them $38,685 in taxes. I called and w… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
My father-in-law passed away 12/22/12 - we filed a 1040 for
My father-in-law passed away 12/22/12 - we filed a 1040 for the 2012 tax year listing him as deceased. We received a 1099R in 2013 for a final payout for an IRA that wasn't converted to his son. The v… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
29,902 satisfied customers
This is all taking place in Virginia. I am the trustee of my
This is all taking place in Virginia. I am the trustee of my fathers trust which consists of about $130K from the sale of his home before he passed which resides in a checking account named "The trust… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
My mother had an annuity, worth about 235,000. She died
my mother had an annuity, worth about 235,000. She died January 4th 2012, my father was the benificiary of the annuity, and he died a week after my mother, so as executor, I got the annuity benefit to… read more
MequonCPA
MequonCPA
CPA Firm Owner
Master's Degree
1,732 satisfied customers
My wifes mother passed away in December of last year. She
My wife's mother passed away in December of last year. She lived in Largo (Pinellas County) Florida. My wife and her sister, daughters of the deceased, are named as equal (50%) beneficiaries on their … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
My father passed away this year. I received death benefits
My father passed away this year. I received death benefits in the form of an annuity. My father lived in MA, I am now a NY state resident. My 1099-R form states that state taxes were paid to MA. In th… read more
winktax
winktax
Enrolled Agent
Master's Degree
346 satisfied customers
My father had an annuity with me as annuitant and his trust
My father had an annuity with me as annuitant and his trust as trustee. Upon his and my mother's death (10/1998 & 7/1993 respectively) my sister and I became trustees. I requested and received a cash … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
I am the beneficiary of a non-qualified fixed annuity that
I am the beneficiary of a non-qualified fixed annuity that was on a monthly payout to my mother. At the time of her death, I was told that the account value is only $100 different than the "cost basis… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
30,440 satisfied customers
Im confused - I hope you can clear up something for me... A
I'm confused - I hope you can clear up something for me... A few months ago, I received a small inheritance. I asked on this site if I had to pay inheritance tax on it, and was told no. Now I'm gettin… read more
winktax
winktax
Enrolled Agent
Master's Degree
346 satisfied customers
My mother named me as the beneficiary in a life insurance policy.
My mother named me as the beneficiary in a life insurance policy. She was murdered in 2010, and in 2011, I received a check from the insurance company. I have two questions. Why did I get a Form 1099-… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
4,670 satisfied customers
I received a death annuity from Metlife after my father died.
I received a death annuity from Metlife after my father died. I received a 1099-R on that death annuity claim that showed both federal and state withholding taxes. I live in Arkansas were as stated in… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
2,290 satisfied customers
My father passed away in July. We have filed the regular federal
My father passed away in July. We have filed the regular federal return for him for 2009 without any problems, however we are having a problem with the estate tax. We we told we have to pay taxes on s… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
I recently had two parents pass away and im the executor of
I recently had two parents pass away and i'm the executor of the will. The estate has a home, property, 401k, annuities, life ins and everythning is being turned over to me to split with my sister and… read more
Bill
Bill
Master's Degree
2,074 satisfied customers
My elderly mother passed away and left me, her beneficiary, ...
My elderly mother passed away and left me, her beneficiary, a small annuity that I cashed in last year. Her estate wasn''t big enough to pay Federal inheritence tax. (The annuity was included in the P… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
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