My grandmother died recently and had an annuity that my mother recieved that is supposed to have been for me and my sibling.
She had to pay something like $30k in taxes since she said its considering income. None of us have ever gifted money before but I read you can gift money and jt won't be taxed.
So if she gifts me and my siblings half the money each would she be able to say she still have to pay that money as part of her income? If not would i have to pay tax on it?
Submitted December 17, 2020 at 05:55AM by Purple_Entry_9034 https://ift.tt/3oYfF2K
