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View Full Version : Taxes on inheritance

stevens_d
Jan 19, 2009, 07:13 AM
Do I have to pay federal or state(California) income taxes on money inherited from a simple trust fund?
AtlantaTaxExpert
Jan 20, 2009, 09:55 AM
Negative.

The only time inherited money is subject to income taxes is if the source is an tax-deferred account, such as a 401K or an IRA or an annuity/