Income Taxes

Questions & Answers

• Question - What kind of information do I need to gather in order to file my grandfather's income taxes or do I even need to do that?

  Unanswered. Can you help?

• Question - If you receive money from an estate in trust for another individual, who pays the income tax on it?

  Hiring a professional for help with figuring tax rates and exemptions for trust income may be money well spent.

• Question - Financial Aid for Caregivers?

  I am caring for my parents and need to be home with them day to day. Is there any financial aid that I can get since I will have lost my income?

• Question - If I claim my mother in my taxes, do I have to claim her income?

  This question has been answered by a Caring.com Expert

• Question - What are the tax implications for the beneficiaries of my father's IRA and joint stock/mutual fund accounts when he passes away?

  This question has been answered by a Caring.com Expert

• Question - Is an IRA counted as an asset by Medicaid?

  Does Medicaid consider an IRA an asset? Medicaid counts IRAs as assets when assessing eligibility, unless you spent them over 60 months before.

• Question - What are annuities and do they make sense for someone over 80?

  This question has been answered by a Caring.com Expert

• Question - How do I reflect my mother's Medicaid coverage and nuring home costs on her tax form and is she eligible for the rebate?

  This question has been answered by a Caring.com Expert

• Question - How do we handle paying taxes on my deceased mother's estate?

  This question has been answered by a Caring.com Expert

• Question - What is my first step in administering my mother's will?

  The first step is usually the hardest: Finding and organizing the property your mothe owned at her death.

• Question - Since my parents own property in several states, how will their estate be administered?

  This question has been answered by a Caring.com Expert

• Question - What rights do I have as a healthcare agent?

  This question has been answered by a Caring.com Expert

• Question - is it a good idea to put your IRA in a revocable living trust?

  Should I put my IRA in a revocable trust? There are good reasons to put an IRA in a revocable living trust. For one, a revocable trust avoids probate.