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Aug 10, 2012 - 4:30pm
ds7
hmmm...if it's not "increase" does this mean it's exempt
from tithing?
especially if the person who "gave it to you" already paid 10% on it?
or, is it like my "allowance" when i was a kid?
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Originally posted on Aug 10, 2012 at 4:30pm
Message modified by ds7 on Aug 10, 2012 at 4:30pm
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Messages
Author
Date
Tax question: What tax implications if you inherit money?
AZcougLawyer
Aug 10, 04:16pm
Estate tax is all over the place in recent years
SausageKingOfChicago
Aug 10, 04:18pm
Link
MormonDevil
Aug 10, 04:18pm
It's pretty cool that this post is the #1 search result.
(nm)
2RUEBLUE
Aug 10, 04:50pm
The power of CB
(nm)
MormonDevil
Aug 10, 06:09pm
Is it cash? Or can they trace it?
(short)
SuperTank
Aug 10, 04:20pm
It's considered a long term investment and taxed accordingly
(nm)
SoValleyCOUG
Aug 10, 04:20pm
inherited money is not taxable for the most part
jonnnylingo
Aug 10, 04:21pm
don't you have to recognize it as "income?"
(nm)
ds7
Aug 10, 04:24pm
That's what my google searches seemed to show.
(nm)
AZcougLawyer
Aug 10, 04:26pm
some states have an inheritance tax...
ds7
Aug 10, 04:28pm
BM the main guard on Shawshank Redemption
(nm)
The Dan Man
Aug 10, 04:23pm
To you, nothing.
(nm)
imanihonjin
Aug 10, 04:25pm
Unless its over 500k, don't worry about paying taxes on it
(nm)
STLcoug
Aug 10, 04:25pm
hmmm...if it's not "increase" does this mean it's exempt
ds7
Aug 10, 04:30pm
This^^^
KingDave
Aug 10, 06:26pm
An Arrested Development quote comes to mind
BertoChavez
Aug 10, 04:26pm
Time's up
BertoChavez
Aug 10, 04:38pm
zero tax to you
lukeskywalker
Aug 10, 04:30pm
^^^THIS IS CORRECT^^^
(nm)
buhlcougar
Aug 10, 04:32pm
When you inherit property
elcareeb
Aug 10, 04:33pm
At least that's how I understand it.
elcareeb
Aug 10, 04:35pm
I went through this...
nuts
Aug 10, 05:23pm
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