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M
margotod
October 15, 2020
Question

I recieved cash from the state teasurer's unclaimed property. Is unclaimed property you recieved taxable? does it need to be reported?

  • October 15, 2020
  • 1 reply
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1 reply

A
Anonymous
October 15, 2020

can't say because it depends on what it is.  should it be funds you left in a bank account for too long, it's your own money you're getting back - nontaxable except for any unreported interest income included.  could be inheritance - non taxable.   could be a state tax refund - may or may not be taxable. could be lottery winnings - likely taxable. 

Critter-3
Critter-3
October 15, 2020

The unclaimed funds are taxed in the same manner that they would have been if you had gotten them back then.   What did you claim ?   

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