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<p>[QUOTE=&quot;bama guy, post: 497107, member: 6154&quot;]I know in Alabama you can receive up to $10,000 a year as a &#039;&#039;gift&#039;&#039; without reporting this as income. Sounds like to me you received a gift(s) not an inheritance.&nbsp; Been there, done that with no problems. Course I had a good lawyer friend.&nbsp; </p><p><br /></p><p>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. </p><p><br /></p><p>That was the way it was when I had to handle all of this stuff.&nbsp;&nbsp; Call me a bad boy but I did not go out of my way trying to find assets&nbsp; after my father passed.&nbsp;&nbsp; </p><p><br /></p><p>I do not think it is a complicated problem.&nbsp; 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&nbsp;&nbsp; Sorry for the loss of you father.&nbsp; Been there to.[/QUOTE]</p><p><br /></p>

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