Hi all.
I know there's so many variables, but I'll take any direction or comments I can get right now.
Person in Alabama passes away and leaves part of their assets (an amount of money) to someone in California (65+ years old).
Recipient is not working, basically gets social security only. Does the recipient have to pay taxes? Is that considered income, and will be taxed just as normal income?
How does that work? Any comments, direction, anything?
Thanks DougB