CoinTalk

Welcome to Coin Talk! Register Now, it's easy and FREE!

Thousands of coin collectors, numismatists, coin dealers, bullion investors, and enthusiasts make Coin Talk their number one source for numismatic news, information about US and world coins, discussions and community.

You are currently viewing Coin Talk as a guest, which limits your access to content, contests and information. By joining our free community, you will be able to join in discussions, contact other members, place free advertisements, enter contests, and much more. Registration is easy and free. Register Now


Go Back   CoinTalk

Notices

View Single Post
Old 01-10-2009, 04:40 PM   #21 (permalink)
bama guy
Coin Hoarder
 
bama guy's Avatar
 
Join Date: Aug 2006
Location: southern alabama
Posts: 972
My Mood:
I know in Alabama you can receive up to $10,000 a year as a ''gift'' without reporting this as income. Sounds like to me you received a gift(s) not an inheritance. Been there, done that with no problems. Course I had a good lawyer friend.

Now if you sell one of these gifts, you are suppose to report any capitol gains on these items in excess of their value on the day they were given to you. If you can not remember the exact day, I doubt anyone else will either.

That was the way it was when I had to handle all of this stuff. Call me a bad boy but I did not go out of my way trying to find assets after my father passed.

I do not think it is a complicated problem. As emphasized, the best thing you can do is get a good tax lawyer. Someone who know what they are doing and up with current regulations Sorry for the loss of you father. Been there to.
bama guy is offline   Reply With Quote
 
» Newsletter
Sign up for CoinTalk's Newsletter
enter your email address below.
» Unanswered Posts
Do You Have the Answer?
» Sponsors

» Today's Top Posters
Top Posters in Last 1 Days
[38]
[33]
[25]
[24]
[19]
[18]
[15]
[15]
[14]
[13]

All times are GMT -4. The time now is 12:38 PM.


vBAdvertise v1.0.0 Copyright ©2009, PixelFX Studios
vBCredits v1.4 Copyright ©2007 - 2008, PixelFX Studios
Copyright 2008 CoinTalk
"Wiki" powered by VaultWiki v2.5.0.
Copyright © 2008 - 2009, Cracked Egg Studios.