On May 1, 2013, my grandfather passed away. In his will, he left his current stock (which is still currently active) to my brother (40%), my sister (30%), and myself (30%). The total amount is just over $100K. I look to use my cut to purchase a house.
That said, what's the best route to take in getting my cut into my bank account, paying the least amount of taxes? Is it considered inheritance? Income? Gift?
That said, what's the best route to take in getting my cut into my bank account, paying the least amount of taxes? Is it considered inheritance? Income? Gift?