This week, my family's estate is FINALLY being finalized (it's been over 2 years since my folks died) and I will receive an inheritance in the tune of $45-$50K (+/-).
My question is...I'm sure I'll have to pay some sort of taxes on this chunck of change. Has anybody here been thru this? Does anyone here do taxes and know how this process works? I just wanna know how much I stand to lose, so I can make my wish list!
I'm reminded of this scene in The Shawshank Redemption. Is this really a true thing or just dreamed up Hollywood bull$heet.
Anways...I appreciate any info about this matter.
And keep the heckling to a minimum. We all know ol' GED has a catch and release issue, that's no front page news. Bastardos!
My question is...I'm sure I'll have to pay some sort of taxes on this chunck of change. Has anybody here been thru this? Does anyone here do taxes and know how this process works? I just wanna know how much I stand to lose, so I can make my wish list!
I'm reminded of this scene in The Shawshank Redemption. Is this really a true thing or just dreamed up Hollywood bull$heet.
Anways...I appreciate any info about this matter.
And keep the heckling to a minimum. We all know ol' GED has a catch and release issue, that's no front page news. Bastardos!