Are there taxes for claiming money from my deceased parent? I was listed as a beneficiary on her bank account when she passed. Will there be any taxes due later on?
Before my parent passed, they listed me as a beneficiary on their bank account. I did all that, and I'm being told that when the fiscal year is over, the government is going to charge interest on something because I claimed the money and put it into my savings. Can someone please explain if this is the case for this situation? My parent didn't leave an official will to cover anything.
Are there taxes for claiming money from my deceased parent? I was listed as a beneficiary on her bank account when she passed. Will there be any taxes due later on?
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