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If you just inherited a bag full of money, no.
If you inherited a tax deferred account like an IRA, 401k, or pension, you may have to pay tax when you take the money out.
If you inherited property such as a house or stocks, you may have to pay taxes on the growth in value between the date of death and the date you sold the property.
If you inherit US Savings Bonds, you may have to pay tax on the interest when you cash them in, including interest earned during the life of the deceased if the deceased was not declaring the interest annually on his or her taxes.
What else can I help you with?
If you claim zero on your taxes will you still owe money when you file?
for best tax return claim 0 at work and when you file claim 1
Can i claim more than 2 children on my 2008 return and get more tax money back.. I have 3 children and only claimed 2 on my 2008 rturn. wondering if i should file an amended return?
For the 2008 tax year you were only allowed to claim the the EITC for 2 of the children that were listed on your 2008 income tax return.
How can you claim the money you spent for a babysitter to watch your kids on your tax return This includes driving them to her house Is there any paperwork needed?
You can claim the money you spent for a babysitter to watch your kids on your tax return by keeping receipts of payments and filing out Form 2441 when filing your taxes. Read instructions for the form if you need further assistance.
How to claim child tax credit?
Since tax regulations can change, it's a good idea to talk to your tax specialist or preparer to find out how to claim a child tax credit on your tax return. If you're filing a paper return or an online return and filling it out on your own, you should find it clearly indicated. There will be a few criteria that you will have to meet in order to claim the credit.
Can you claim four kids on a Federal Tax return?
Certainly, if you have 4 dependent kids (not kids who have grown up and moved out) you are free to claim them on your tax return, and should do so.
If your girlfriend owes the government money can they take your tax return if you claim her as a dependent?
yes they can
If you claim zero on your taxes will you still owe money when you file?
for best tax return claim 0 at work and when you file claim 1
Can I claim rent as a tax deduction on my income tax return?
Yes, you generally cannot claim rent as a tax deduction on your income tax return.
Does your husband have to claim your workers compensation benefits on his tax return?
does my spouse have to claim my workers disability pension on his income tax return
Can i claim more than 2 children on my 2008 return and get more tax money back.. I have 3 children and only claimed 2 on my 2008 rturn. wondering if i should file an amended return?
For the 2008 tax year you were only allowed to claim the the EITC for 2 of the children that were listed on your 2008 income tax return.
Is it legal to claim others on your tax return?
It is legal to claim others on your tax return as your dependants, but only if they are in fact your dependants as defined by the IRS regulations.
What happens if the IRS owes you money?
If the IRS owes you money, you can expect to receive a refund. This typically occurs when you have overpaid your taxes or are eligible for certain tax credits or deductions. You can claim your refund by filing a tax return and providing the necessary documentation to support your claim.
How can you claim the money you spent for a babysitter to watch your kids on your tax return This includes driving them to her house Is there any paperwork needed?
You can claim the money you spent for a babysitter to watch your kids on your tax return by keeping receipts of payments and filing out Form 2441 when filing your taxes. Read instructions for the form if you need further assistance.
Can you claim 0 on your W-4 and then claim 1 or more dependents when you file for the year?
yes if you claim ) they take more money out of your check then you'll get back any overpayment when you do your tax return
Will inaccurate self employed tax return effect my auto injury claim?
Inaccurate self employed tax return and auto injury claim should not have any affect on each other for income tax return purposes.
Can you claim dependents abroad on your tax return?
Yes you can.
Is it possible to claim animals on your tax return?
Not as a dependent.
