>my late grandmothers estate and stonks was just sold off>nearly half a million>my mom was stricken from the will 6 years ago and my name was put in her place>letter sent to me, im set to inherit nearly $80k >inheritance tax has been pre-paid>i might have to pay a capital gains tax on the profits made from selling the stonks (divided by the number of beneficiaries)>ive calculated that this will not surpass $5k and money from the trust has already been set aside for this and other unforseen expenses but i'm still going to plan for the possibility of having to pay $5k in taxesI'm 30. I have a house and mortgage and will prioritize replacing my nearly 30 year old roof, which i expect will cost anywhere from $25,000 to $35,000 (decent sized ranch home, i chose it specifically because everything of importance is on the first floor so i could comfortably die in it as I age).What is the best thing to do with the remainder of the inheritance?
>>62166972>What is the best thing to do with the remainder of the inheritance?depends on what you want to do with the rest of your lifeyou're probably better off putting it in an ETF of some kind than keeping it in cash
but yeah try to avoid triggering tax events
>>62166972How do you own a house, presumably a 300k+ one, but also not know what to do with 50k? And also also, for some reason, you're asking for advice on 4chan.
>>62166988>ETF of some kindI already have some long-term thing with Vanguard that has been accumulating nicely but that was from my former employer and i havent put into it in over a year. I'll look into it>>62167001>How do you own a house, presumably a 300k+ one, but also not know what to do with 50k?I'm decent with money, but only in the sense that i dont spend it like an idiot. Ive tried investing in stonks before with little success. My dumb ass has been holding onto disney stock for over a decade
>>62166972>>inheritance tax
>>62166972There should not be any capital gains tax on sale of assets of the estate if you are in the USA. Basis on assets including stock goes to market upon inheritance.
>>62167118idk im not a legal expert, but from my understanding of the document, there was over 100k in capital gains upon stock liquidation that we may have to cover (split equally amongst beneficiaries) but i wont know until next year when i may or may not receive a K-1
>>62167114LOL. IMAGINE BEING YUROPEEAN
>>62167159the tax would only be on gains made from the date of death to the date of liquidation
>>62167286>the tax would only be on gains made from the date of death to the date of liquidationi think its gains between the date of purchase of original stock to the value aquired on sale. I don't think date if death plays apart but, this is just my assumption, im not a tax expert
