Message Font: Serif | Sans-Serif
No. of Recommendations: 0
Yes, I should have started this a while back.

Grandma died with a will in place. Had about $40K in three mutual funds. Still waiting for a couple of numbers, but looks as though the gain is about $300. Since this is below the $600, do I just not file? Or do I file to show that the $40K that was taken out by the administrator (my brother) is mostly her contributions (since what the mutual fund reports to the IRS is just the redemption of the funds)?

If I file to show the latter, when I get down to the Skip persons check box, I have to check "yes"--$5000 went to each of eight great-grandkids. So then do I have to do Form 706?


Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.