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I got a stelment from my dad's astate of 33,333.33 do I have to pay tax on it

Dallas, TX |

My dad was hit by a car which caused him to passaway we sued and me a my thtwo sisters each received 33,333.33

Attorney Answers 3


  1. Best answer

    I agree, you should not have to pay taxes on this type of settlement payment.


  2. No. There should not be any tax on this.

    James Frederick

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ***************************************** LEGAL DISCLAIMER I am licensed to practice law in the State of Michigan and have offices in Wayne and Ingham Counties. My practice is focused in the areas of estate planning and probate administration. I am ethically required to state that the above answer does not create an attorney/client relationship. These responses should be considered general legal education and are intended to provide general information about the question asked. Frequently, the question does not include important facts that, if known, could significantly change the answer. Information provided on this site should not be used as a substitute for competent legal advice from a licensed attorney that practices in your state. The law changes frequently and varies from state to state. If I refer to your state's laws, you should not rely on what I say; I just did a quick Internet search and found something that looked relevant that I hoped you would find helpful. You should verify and confirm any information provided with an attorney licensed in your state. I hope you our answer helpful!


  3. The IRS taxes "income." There is a lot of dispute about what is considered to be "income." However, Congress specifically said gifts and inheritance are NOT income, and so they are not taxable. The money you got from from your dad's estate is an inheritance and you would not have to pay taxes on it. See the link below to see the actual law.

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