Hey everyone, welcome back. It's Finance Friday, another special edition of Money Girl, where I

answer your burning money questions. Today we have a great topic. It came from Emily G. who says,

I'm 28 with an annual income of $47,000 and no debt.

I just inherited a little over $200,000 from my father, who recently passed away.

It came from selling his property, which I owned for less than a year.

How will that affect my taxes and any capital gains? Also, what are your

recommendations for managing my inheritance? I've been told to invest in multiple CDs, but I'm

uncertain about what to do with that. I appreciate your questions, Emily, and I'm so sorry to

hear about your father's passing. This podcast will review how an inheritance

may get taxed. Knowing the rules for you or your beneficiaries can help with estate planning

and minimizing taxes. Plus, we'll review how to make the most of an inheritance based on your

situation and financial goals.

Thanks for downloading episode 891 of the Money Girl podcast.

I'm Laura Adams, an award-winning author, money speaker, on-camera spokesperson, and consumer

advocate. I've been hosting this show since 2008. You can learn more about me at laura d adams.com, and that's where you can

contact me about PR and marketing work or speaking appearances. You can also sign up for my free

substack newsletter called The Money Stack. It gives subscribers a terrific free money success toolkit,

which is a great way to start the year.

If you have a question about money, you can use my contact page at laura d adams.com or leave a

message 247 at 302-364.038.

So let's get into this important topic.

If a family member or friend leaves you an inheritance, you may be like Emily, wondering if you owe taxes.

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