Inheritance? Income? Gift?

[lvassar]

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?

 

[army judge]

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?

You must consider much more than the value of any inheritance.
Each person, and/or couple has a very unique tax situation.
You don't want to risk being audited by seeking the tax advice of strangers.speak to a tax attorney or a CPA.
It's not just about the thing you're inheriting.
Don't be pound wise and penny foolish.