Coming into a windfall? Here’s how to make the most of it.
The post 4 Smart Things to Do When You Get an Inheritance appeared first on Discover Bank – Banking Topics Blog.
Tag: inheritance
How to Avoid Paying Taxes on Inherited Property
Inheriting a home or other property can increase the value of your estate but it can also result in tax consequences. If the property you inherit has appreciated in value since the original owner purchased it, you could be on … Continue reading →
The post How to Avoid Paying Taxes on Inherited Property appeared first on SmartAsset Blog.
Joint and Survivorship Insurance: What You Need to Know
A joint insurance policy is one taken by two people, offering benefits that arenât provided by single policies and allow you to save a few bucks in monthly premiums. If youâre married and want your spouse to receive a benefit if you die and your children to receive one if you both die, it seems […]
Joint and Survivorship Insurance: What You Need to Know is a post from Pocket Your Dollars.
How to Avoid a Prepayment Penalty When Paying Off a Loan
Look at you, so responsible. You received a financial windfall â stimulus check, tax refund, work bonus, inheritance, whatever â and youâre using it to pay off one of your debts years ahead of schedule. Good for you! Except⦠make sure you donât get charged a prepayment penalty. Now wait just a minute, you say. [â¦]
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A Guide to Schedule K-1 (Form 1041)
Inheriting property or other assets typically involves filing the appropriate tax forms with the IRS. Schedule K-1 (Form 1041) is used to report a beneficiaryâs share of an estate or trust, including income as well as credits, deductions and profits. … Continue reading →
The post A Guide to Schedule K-1 (Form 1041) appeared first on SmartAsset Blog.