My wife and my total income is 30,000 anually I have inherited 14,000 from a trust my grandma left do I owe taxes on it?

Similar questions: wife total income 30 000 anually inherited 14 trust grandma left owe taxes.

No, you owe no income tax, but depending on what state you live in you might owe inheritance tax. There is no estate tax or income tax due on this gift from your grandmother. But you should check the inheritance tax laws in your state to make sure you do not owe inheritance tax.

Some states have inheritance tax and some don't. And with some states, below a certain amount is free from tax. For the year 2010, you can inherit an unlimited amount.

The estate tax has been repealed for 2010, but unless congress acts, the law will sunset, (expires on 12/31/2010) and revert to 2001 rules where the first $1,000,000 is estate tax free. The feeling is congress will set the exemption at $3,500,000 for 2011 and beyond. But congress has the right to change their mind at any time.

The only tax you will owe in the future is the tax on the interest earned if you put the money in savings or a CD. The only money you have to see if owe tax on is the $30,000 of income for 2009.

There's no taxes on inheritance In the US, there are no taxes on inheritance on that amount. As long as you inherited it, there is no taxes on it.

Probably not, but... You should hire a tax professional to make sure. It will cost about $300 to know for sure.

Inheritance" = "income. " Any income is taxable, even the illegal income (as Dillinger found out. ) So you'd better report your drug sales and bank-robbing income, also (I crack myself up.) .

" "DO I have to file taxes with my spouse even though he don't give me no money and when he owe I owe." "my dad left $20K in a bank account with instructions to the bank to distribute it to me upon his death. Do I owe taxes? " "How do I figure out what is deductible for income taxes and what is not?" "i don't owe any back taxes or anything" "how can I make payments to west virginia income taxes that I owe?

DO I have to file taxes with my spouse even though he don't give me no money and when he owe I owe.

My dad left $20K in a bank account with instructions to the bank to distribute it to me upon his death. Do I owe taxes?

I cant really gove you an answer,but what I can give you is a way to a solution, that is you have to find the anglde that you relate to or peaks your interest. A good paper is one that people get drawn into because it reaches them ln some way.As for me WW11 to me, I think of the holocaust and the effect it had on the survivors, their families and those who stood by and did nothing until it was too late.