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My father has Charles Schwab Investment account and my name

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has been on the account...
My father has Charles Schwab Investment account and my name has been on the account with his for years. When he passes away is this automatically mine and will any taxes be due?
Submitted: 1 year ago.Category: Tax
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Answered in 2 minutes by:
4/20/2016
Tax Professional: Lev, Tax Advisor replied 1 year ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,140
Experience: Taxes, Immigration, Labor Relations
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If you are a joint owner - yes - you may use that account after your father's death.You might need to provide teh death certificate to Charles Schwab and have them to remove your father's name - so all earning will be reported to the IRS in your name and your SSN.
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Tax Professional: Lev, Tax Advisor replied 1 year ago
.I appreciate if you take a moment to rate the answer.Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all tax related issues.
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