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    macdonald's Avatar
    macdonald Posts: 7, Reputation: 1
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    #1

    Jan 6, 2007, 07:26 AM
    Inheritance
    What is the tax structure for Federal Taxes on inheritance taxes when you receive money from someone's will?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #2

    Jan 6, 2007, 08:53 AM
    What do you mean by "tax structure". An inheritance is an inheritance whether by will or not. Under federal law the first 2 million is not taxable.
    macdonald's Avatar
    macdonald Posts: 7, Reputation: 1
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    #3

    Jan 6, 2007, 09:18 AM
    Quote Originally Posted by macdonald
    What is the tax structure for Federal Taxes on inheritance taxes when you receive money from someone's will?
    Yes, it helped. May I ask where you got your answer from?
    macdonald's Avatar
    macdonald Posts: 7, Reputation: 1
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    #4

    Jan 6, 2007, 09:18 AM
    Quote Originally Posted by macdonald
    Yes, it helped. May I ask where you got your answer from?
    Debe
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #5

    Jan 6, 2007, 10:50 AM
    Indirectly the tax law. But I've read of that limit in various places during my travels. I think there are probably a couple of threads here where its discussed.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #6

    Jan 8, 2007, 02:14 PM
    The limits is located in the Internal Reveue Code. You can also get it from Internal Revenue Service.

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