You are receiving a inhairitance from your deceased aunt do you have to pay taxes on the money?

Answer 1

It depends. Generally speaking, something inherited is taxable to the recipient (heir) if it would have been taxable to the decedent.
Example: If you inherit an bank account, the interest earned on the account is taxable to you because it would have been taxable to the person who died. The balance that was in the bank account generally would not be taxable (depending on the type of account).
Some assets (house & car) have what's called an adjusted basis (original price paid plus other costs). Generally when assets are inherited, the asset has a basis that is equal to what the item is worth (fair market value) when the person died.
Example: You inherit your aunt's car. You decide to sell it right away. This is not taxable income because you likely sold it for the same that it was worth when she died. Let's say you also inherit her house and decide to keep it for a couple of years (but you don't live there) then sell it. If the house was worth $200,000 when she died and you sold it for $250,000, then you have to pay taxes on the $50,000 gain but not on the $200,000.
There are other more complicated things related to inheriting assets, so you should really talk to a lawyer or CPA if you inherited something and have to decide what to do with it or whether or not to accept the inheritance.