Legal Question in Wills and Trusts in Virginia

inheritance taxes

I expect to receive around $12,000 from an inheritance. I have an annual income from social security of $12,000. I am a widow and have no other assets except my home and car. Do I need to report this income to the internal revenue or will it be considered a gift? Thank you.


Asked on 10/18/06, 1:01 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: inheritance taxes

Rest easy, friend. No federal taxes will be due

on the kind of inheritance which you've referenced.

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Answered on 10/18/06, 1:12 pm


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