[GNC] Inheritance of Cash

[David T.]

Leo, 
Adrien's advice is accurate. Enter the transaction as he suggests, and ask your tax advisor whether you owe tax or not. Gnucash is not an oracle; it won't be able to answer your tax questions. 
David


 
 
  On Fri, Oct 12, 2018 at 10:23, Adrien Monteleone<adrien.monteleone at lusfiber.net> wrote:   Whatever the transaction is supposed to be, you’ll be able to do it in GnuCash, but you need to speak to a local CPA for formal advice on how to record it and to answer your questions concerning tax implications.

In the most simple form, it might be something like:

Dr. Assets:Cash
Cr. Income:Inheritance

as a generic example.

Regards,
Adrien

> On Oct 11, 2018, at 10:27 PM, Leo Bolta <lbolta at rogers.com> wrote:
> 
> How would one handle a transaction of inherited cash in GnuCash within Canada?  Can I expect to be paying taxes on the sum in the future?
> 
> Thanks,
> 
> Leo
> 
> 
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