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susic
Oct 20, 2007, 06:53 PM
My mom recently passed away and she lived in PA. Since I live in CA, what happens in the tax world with the proceeds from the sale of the house?
ebaines
Oct 22, 2007, 06:14 AM
Your mother's estate may or may not owe estate taxes to either the IRS or the state of PA - however if the value of the estate is less than $2M the estate won't owe any taxes. hence the full value after expenses will pass to the heirs. As an heir you will not owe anything to CA, as their is no inheritance tax in that state.
AtlantaTaxExpert
Oct 22, 2007, 08:49 AM
Agree!