Legal Question in Wills and Trusts in Virginia

Reporting money from an estate

When assets (cash) are divided among the benefisiaries of an estate, are there any requirements to report these amounts as income when the total amount of assets are less than $200,000? In other words, as the executor of a will, do I need to file 1099's for thoes receiving cash?


Asked on 5/04/07, 10:56 am

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

Re: Reporting money from an estate

No, I believe such bequests are not subject to federal taxation.

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Answered on 5/05/07, 1:23 pm


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