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The Water Cooler
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Any tax gurus in da house?
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<blockquote data-quote="Mad Professor" data-source="post: 3421046" data-attributes="member: 5316"><p>Most estates won’t. Usually the biggest thing to be careful of is if the value of something increasing greatly after a death 2 years ago. Also estates with revenue generating properties might incur a tax liability for this year that is passed to you. (Lower rate than an estate or trust rate) Mineral rights, commercial properties etc. </p><p></p><p></p><p>Talk to your tax preparer or CPA when you get the distribution. But I have a feeling you won’t own anything from the way you worded your question.</p></blockquote><p></p>
[QUOTE="Mad Professor, post: 3421046, member: 5316"] Most estates won’t. Usually the biggest thing to be careful of is if the value of something increasing greatly after a death 2 years ago. Also estates with revenue generating properties might incur a tax liability for this year that is passed to you. (Lower rate than an estate or trust rate) Mineral rights, commercial properties etc. Talk to your tax preparer or CPA when you get the distribution. But I have a feeling you won’t own anything from the way you worded your question. [/QUOTE]
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