tdiller1956
Junior Member
What is the name of your state? NY
Hi, I'm new here. I have a tax question.
My mother received an insurance settlement of $45,000 from an auto accident. She gave it to me in an account opened in my name. Is this money and any interest considered income for state and federal taxes? What are the tax implications for my mother?
Thanks,
Hi, I'm new here. I have a tax question.
My mother received an insurance settlement of $45,000 from an auto accident. She gave it to me in an account opened in my name. Is this money and any interest considered income for state and federal taxes? What are the tax implications for my mother?
Thanks,