received some $ from my mom's trust after she passed. how much, if any, tax am i going to have to pay? googling "taxes paid on money from trust" made my head hurt.
Ok- so being in MA and a child (obviously) im exempt it appears
something seems odd about it though- uncle sam not taking his cut...
Cool, thank you! It wasnt much $, but i wanted to know if i should set adide some for taxes. Does it count as income at all?
The $$ i got was from her life insurance payout, but the check was from a trust she set up. I think the life insurance $ went to the trust, which was then divided amongst my siblings and i
Scratch that- the $ was from her retirement account through the trust, then to the kids.
This shit is confusing anddepressing