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gpramos
Sep 18, 2007, 03:21 PM
I live in California, my dad owns a home and will be giving it to me and my brother upon his death. (not for long I pray) What is the inheritance tax in this state? If there isn't any is there other types of tax we will be facing?
AtlantaTaxExpert
Sep 20, 2007, 08:57 AM
If his estate is under $2 million, there will be NO federal estate taxes.

I believe that California follows the federal guidelines, in that estates under $2M passes to heirs tax-free.