Follow
Share

My mother got some type of letter from the funeral home stating she has $29.00 taxable interest from her prepaid Funeral Trust.

This question has been closed for answers. Ask a New Question.
Find Care & Housing
If the interest was not paid to her and it stayed in the Trust, then you deduct any maintenance fees imposed by the funeral home holding the trust. Usually there is a net loss. If the $29.00 has no deductions against it, you pay 15% tax. The IRS will help you. Call -800-829-1040 .
Helpful Answer (0)
Report

She would report that on her income tax, IF she files income tax.
Helpful Answer (0)
Report

This question has been closed for answers. Ask a New Question.
Ask a Question
Subscribe to
Our Newsletter