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First question is who is the executor of the estate? Typically it falls upon that person to do things like file the final tax return. If it is your girlfriend, then she should do so. What I would do is contact a person in the state where her father lived to do the tax returns. Most of the work can be done online. A couple of products to look at are ...


5

Yes your inherited share disqualifies you from using the LISA for a first home, without being affected by the penalty. As I see it your options are to keep the money in the LISA to use for retirement, take the money out of the LISA and take the hit on the penalty, or if its not too late, hold off on accepting the inheritance or don't claim it at all. The ...


3

One possibility is the IRA contains non-deductible contributions. If non-deductible contributions were made (meaning, no deduction was taken on the contributor's taxes the year the contribution was made for those contributions), then those portions were taxed prior to being contributed, and so they are not taxed - only the income beyond those contributions ...


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