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Joined: Mar 2003
Posts: 545
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Joined: Mar 2003
Posts: 545 |
My mom died and I have her house and monies from her. I know not to mix this money with our money but how do I do the income tax for deductions and income on the house and monies??????? Do I have to file seperately now??????????????????
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Joined: May 2002
Posts: 9,015
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Joined: May 2002
Posts: 9,015 |
</font><blockquote><font size="1" face="Verdana, Arial">quote:</font><hr /><font size="2" face="Verdana, Arial">Do I have to file seperately now?????????????????? </font><hr /></blockquote><font size="2" face="Verdana, Arial">(((((Lefty))))), I'm sorry for the loss of your mother.
In answer to your question, most likely. But you need to contact a CPA and an attorney ASAP.
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Joined: Apr 1999
Posts: 8,016
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Joined: Apr 1999
Posts: 8,016 |
Sorry to hear about your mother lefty.
You probably do not need to file separate taxes.. Simply report it as your income on the tax forms.
And unless it's over $600,000, you probably won't even have to report it on your income but taxes will have to be filed for your Mother and on the estate. But do speak with a tax person about this.
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Joined: Jul 2004
Posts: 2,255
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Joined: Jul 2004
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lefty...sorry about your loss...best thing to do you have already been told: contact a CPA. I'm sorry, don't know your story. But if I can help any (specific questions) feel free to email me at fitzirishcream@optonline.net. At the very least, I may be able to point you in the right direction where you can do some research on your own.
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Joined: Apr 1999
Posts: 8,016
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Joined: Apr 1999
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My mom died and I have her house and monies from her. I'm just kind of curious. Do you just "have" the house & money or was it given to you as part of her estate (meaning it has officially been given to you)? <small>[ September 23, 2004, 04:24 PM: Message edited by: Chris -CA123 ]</small>
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