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Financial Planning / Tax Strategies
|Subject: Inheritance Tax Question||Date: 8/11/2010 8:48 PM|
|Author: xSixSigmaMBB||Number: 110879 of 120431|
My DW's Grandmother passed away earlier this year.
The estate, what little there was was split evenly between the 3 sisters. My dMIL received 1/3 of the total amount and at her discretion, chose to have it split 3 ways so that she kept 1/3, 1/3 came to my wife and 1/3 to my dSIL.
Will I be responsible for any taxes on this amount? We're talking less than $10,000 that was given to DW and I.
Thanks in advance... reading the inheritance stuff at the IRS page is a bit confusing.
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