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 →
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Medicare and Medicaid may sound alike, but these government health insurance programs are dramatically different from one another. Here’s aÂ brief overview. What Is Medicare? Administered by the federal government, Medicare is a health insurance program primarily for adults who are 65 years of age or older and have paid into the Social Security system for… Read More
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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.