I live in Indiana. My mother recently passed away and left a number of CDs to my siblings and I. We processed the consent to transfer forms and can now cash them in at the bank. Do we pay taxes on the CDs if we cash them in? Does my mother's estate have to pay taxes on them?
BankingQuestions.com does not offer advice on matters of taxation. The answer to your questions could depend on the dollar amounts involved, and any state taxation most certainly will depend on Indiana state law.
Contact a qualified tax professional for the information you seek.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
BankingQuestions.com does not offer advice on matters of taxation. The answer to your questions could depend on the dollar amounts involved, and any state taxation most certainly will depend on Indiana state law.
Contact a qualified tax professional for the information you seek.
