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My father left me 100,000 in his will do i have to pay taxes

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on it JA: The Accountant will...
my father left me 100,000 in his will do i have to pay taxes on it
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: My father died three years ago my mother give each child 100,000 cash do we have to pay taxes on this money
JA: Is there anything else important you think the Accountant should know?
Customer: no
Submitted: 1 year ago.Category: Tax
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Answered in 1 minute by:
10/12/2016
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,338
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Hi, my name is Mark. I will be happy to help you with your questions. Please give me a few moments to prepare your response.

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Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 1 year ago

What state do you live in? From a federal standpoint you would not have to pay taxes on the inheritance of $100,000.

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Mark Taylor
Mark Taylor
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Category: Tax
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