Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 09-23-2008, 03:53 PM
Junior Member
 
Join Date: Sep 2008
Location: south NJ
Posts: 1
Will I Pay???

I am executor to my mother's will. Have been through probate. Have 2 sisters. Just sold mom's house for $225K.
1. After I divide the proceeds will I have to pay taxes on my share of the money?
2. and if so...Do I have a time limit in which to invest the money before being taxed on it?
3. and if so...what sort of options do I have? CD's, IRA's etc?

I'm being told different things by different people.(none of whom are qualified of course)
I plan on consulting a tax advisor, but thought I could get a few answers online.

Please assist.
Thank you,
T.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.