asked

My mom passed away in Feb 2012, and my sister was the executor of her estate. Her final assets total about $82,000 for each of us. My sister took a lump sum last year, but I took $25,000 in 2013 and left the remainder in the investment (NY Life annuity). Do I need to fill out any paperwork or tax forms regarding getting this money, and do I owe any inheritance tax on this amount? Also, does the state of PA (where I live) get involved in any forms or taxes? Is it different if I rolled the remaining money ($57K) into an IRA?

April 22nd, 2024

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