Maximizing my annuity ,Minimize taxation on inherited
It was a pleasure meeting you last week at the emerge Financial Health conference at the Marriott .I sent a email with my annuity
Annuity investment graph attached .How do I minimize my taxation on inherited house?
Be blessed !
Terry Says
I can’t give specific advice on how you invest your variable annuity. And if you inherited a house, then your new “cost basis” is the value on date of death of the person who left it to you. I suggest you immediately get an appraisal in writing, from a certified appraiser, and then when you ultimately sell the house, you will have that number to use as a cost basis for any applicable taxes at that time.
There is no taxation on the house now, as you inherit it. Only when you sell.
