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Do you have to pay income on money you inherited from your great aunt?
Wiki User
∙ 15y ago
You don't have to pay income tax on money.
You may have to pay income tax if you receive property that has increased in value since your aunt died. You would pay tax on the profit when you sell it. You may have to pay income tax when you take withdrawals from a tax-deferred account you inherited from your aunt (such as a traditional IRA or 401k). You may have to pay income tax on the interest from US Savings Bonds you inherited.
Some states impose an inheritance tax (which is different from an income tax). You may have to pay an inheritance tax.
If the estate failed to pay any tax that might be due before distributing property to you, the IRS may come looking to you to recover some of the property.
Wiki User
∙ 15y ago
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What relationship is your great aunt to your daughter?
Your great aunt is your daughter's great great aunt. Your daughter is your great aunt's great great niece.
Is your mothers aunt your great aunt or your grand aunt?
Your great aunt.
What relationship is your grandson to your aunt?
You Aunt is you grandson's Great-Great Aunt. Your grandson is your Aunt's Great-Great Nephew.
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You granddaughter is a great great niece of your aunt. Your aunt is your granddaughter's great great aunt.
What is your mother's great aunt to your child?
To your child, she would be a great great great aunt. If she is your mother's great aunt, that means she is your great great aunt, making her a great great great aunt to your child. I would just stick to calling her auntie or Aunt ______. :)
What is the relationship of my daughter and my great-great aunt?
Your great-great aunt is your daughter's great-great-great aunt.
What relation are you to your grandad's sister?
Your grandmother's sister is your great aunt
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She is your Great Aunt in law!
What is your relationship with your great grandmothers niece?
You are your neice's aunt, your neice's children's great aunt, and your neice's grandchildren's great great aunt
What is your mothers great aunt to you?
Your Great Great Aunt
What is my aunt's niece to me?
Your sister's aunt (who is also your aunt) is the baby's great aunt. The baby is a great niece or great nephew of your sister's aunt.
What does your aunt call your child?
if it is a boy it is a cousin brother and if it is a girl it is a cousin sister
