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Old 02-24-2014, 08:26 PM
Idle Idle is offline
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Join Date: Oct 2012
Posts: 11,809
I know that anything that is received in an inheritance is tax free unless it is in in the millions of dollars and even then I think the first five mil is exempt.

Check out Schedule D to see how to deal with this. (At least that's what my accountant said, I really don't know.)

Texas is nice in parts, but overall not as Conservative as Gov. Perry would like you to think. I get all over the state and it is very rare to meet a fire breathing Conservative although you do meet a lot of weirdos that think they are the second coming of Sam Houston.

And while there is no state income tax in Texas property taxes are very, very high (depending on where you live) and the level of city services are tied 100% to your property tax levels.

One good thing about Texas is that you can live out in the country where taxes are cheaper and be in a big city where taxes are higher in less than an hour. For example: I do a lot of shopping in Highland Park but I don't live there. This is the case for many people.
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