inheritance

[BRWVABELL]

I live in the state of Virginia. I inherited my father's mutual funds. If I withdraw monies from these funds, are these monies taxable?
Thank You: Brenda

 

[advisor10]

2-16-2002

DEAR BRWVABELL:

Yes, these monies are taxable, on a state and federal level. You will be receiving some type of tax documentation at the end of the year for whenever you cash them in (may be a Form 1099R or W2 or something similar.

If you have any questions, you really do need to discuss that with a local CPA or tax accountant or even an e-mail or phone call to the mutual funds company may help.

SINCERELY,

advisor