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Mo. unclaimed property

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    Mo. unclaimed property

    Missouri has an unclaimed property fund. My client's name was listed as having some money in this fund. He received a couple thousand dollars, but says he can't find out where or who it came from. Is this taxable? State didn't send out 1099. He says they have tried to contact the secretary of state's office (in charge of the fund) but with no luck. Any other ideas?

    #2
    Frogotten Property

    Most likely a forgotten bank account, deposit, or uncahsed check. Generally not taxable because already taxed or taxed in year check was issued if taxable. Since these funds to not pay interest on the funds held, there is no income.

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