My husband is inheriting a house from elderly friends, in his name only. It’s worth $1 million or more. We do not live in a ...

Your 401(k) doesn’t just disappear when you die. Here’s how it’s transferred, who gets it, the tax impact, and why ...

Inheriting an IRA can be complex. The rules differ based on your relationship to the deceased, your age and even their age at death. One misstep can trigger hefty penalties or tax bills you can’t undo ...

A Schedule K-1 is a federal tax form that business partnerships and S corporations use to report a partner's share of the income, losses, capital gains, dividends, and other items.

For retirement savers, adding a beneficiary to your 401(k) plan should be a top priority. A 401(k) plan beneficiary is the person or entity, such as a charity or trust, who inherits your 401(k ...

Wills vs. designated beneficiaries Wills are legal documents that lay the groundwork for dividing valuable possessions, like real estate, in addition to investments and cash when a person dies.

Former Keiyo North MP James Murgor and his brothers have suffered a blow in the fight for their late father’s Sh2 billion estate after the High Court in Eldoret granted an equal share to all 35 ...

The Kenyan government disbursed KSh 3,517,470,000 under the Inua Jamii cash transfer program to 1,758,735 beneficiaries for the December 2024 payment cycle Beneficiaries receive KSh 2,000 through ...

A Schedule K-1 document is prepared for each relevant individual (partner, shareholder, or beneficiary). A partnership then files Form 1065, the partnership tax return that contains the activity ...

The IRS requires S corporations to file Schedule K-1 for each of their shareholders along with their S corp tax return (Form 1120S) every year. S corps also must send their shareholders a ...