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    copperhair616's Avatar
    copperhair616 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 13, 2006, 08:54 PM
    Inheritance tax
    My father recently passed away, and we received $70,000 from his estate. Do we have to pay taxes on this money?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Dec 13, 2006, 09:29 PM
    Negative!

    You are well below the minimum amount that is subject to any estate tax (on the federal level) or inheirtance tax (on the state level).

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