Okay, I got my taxes all figured out this year...

It turns out I'm paying $2675.52

Close to my average, being self employed...

Strange thing is that my daughter is getting back $2675.40

At least we're keeping it all in the family eh...

and my refund will be the other 12 cents

Enjoy & invest wisely !

Mine will be 12 cents less than yours.

ditto

you could save the government some time and money by just giving your taxes to your daughter... or to me, thats what i should have coming back too...

I received a small inheritance this past fall, and I have to report it on my income tax. Since I was out of work for 4 months last year, this inheritance almost doubled my income on the year. Unfortunately, the tax I have pay on the inheritance is DOUBLE what I have to pay on my actual earnings! That means my taxes have TRIPLED for this year.

Needless to say, I am quite miffed about this. I'm not in a high tax bracket, but because of how my state income tax is structured, I lost $9000 of TAX EXEMPTION. That means I had to pay 8x the income tax despite being lower middle class. Therefore, I have to hand my federal refund over to the state just to cover taxes.

ARGH!!!

Wow this really sucks!! Sorry to hear it!

When my siblings and I got our inheritance the taxes were already taken care of, didn't have to report it on that years taxes at all. I assumed that when my dad made his will he arranged it this way. I know they got paid somehow but not by us. Also for the three years following the receipt of the inheritance we all get extra money on top of any tax return. That part is a mystery to me since my brother and I are in similar tax bracket and he got an extra $400.00 to my $80.00 My professional tax preparer didn't strike me as being very savvy. At first she wasn't going to apply for the extra at all. Maybe I should do some looking into this...