Question: I would like someone else to answer this to double check my answer please! Jessica's aunt died and left her a house and some money
I would like someone else to answer this to double check my answer please!
Jessica's aunt died and left her a house and some money to her and 2 of her siblings. Jessica has four siblings total. Although 2 of her siblings were not listed as beneficiaries, they have agreed to split all of the assets among all 5 people. The house was valued at $229,000, which was sold for that exact amount and there are bank accounts worth $60,000. The siblings have already distributed the house money. They have not yet touched the money from the bank accounts.
Jessica wants to know how this inheritance mightaffect her income taxes?
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