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Rondamarie
Feb 4, 2009, 03:26 PM
Do I have to pay inheritance taxes on a house that I inherited from my mother, worth about 500,000.

Thanks
ebaines
Feb 5, 2009, 07:28 AM
Proably not. There is no federal inheritance tax, and any federal or state estate taxes that might have been due based on the value of your mother's estate is paid out of the assets of the estate by the executor, not by the heirs. A couple of states do have inheritance taxes however - so please tell us what state do you live in?