Archived
Do i have to pay taxes on my dads 401k?
William's answer
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Answered on August 06, 2009
While you do not generally have to pay federal income tax when you inherit property, you are required to pay federal income taxes on the income...
Archived
Which would be taxed the least: inheriting (land) simply by being only relative OR (land) willed to by person with no relatives?
William's answer
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Answered on August 06, 2009
Generally, the beneficiary of an estate does not pay any federal income taxes as a result of inheriting the property. This rule applies regardless...
Archived
My parents are going to will me a home when they die if they put it in my name now will i have to pay any taxes or fees on it?
William's answer
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Answered on July 13, 2009
Generally, any property that you inherit is not subject to any federal income taxes. Moreover, your basis in the property (i.e., the amount used...
Archived
First Time Homeowner Tax Credit
William's answer
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Answered on July 13, 2009
Assuming that you purchased the home in 2009 and that you have not owned a principal residence for the prior three years, you are entitled to claim...
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