This year Jessica's aunt died and left her house and some money to Jessica and 2 of her siblings. Jessica actually has four siblings. Although 2 of her siblings were not listed as beneficiaries, they have agreed to split all of the assets among all 5 people. The estate consisted of a house valued at $229,000 according to the probate, which was sold for that exact amount and there are bank accounts worth $60,000. The siblings have already distributed the proceeds from the house sale. They have not yet distributed the money from the bank accounts.

Jessica wants to know how this inheritance mightaffect her income taxes and estimated tax payments or if there are any other issues that might arise.