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bee0424
Mar 7, 2009, 04:10 PM
I received 45,000 from a trust that was administered in the state of Michigan. Taxes were taken out of the trust before monies were distributed. Will I still have to pay inheritance tax in California for the remaining $45,00 I received?

ScottGem
Mar 7, 2009, 04:37 PM
No, Estate taxes are paid by the estate not the heir.

MukatA
Mar 8, 2009, 04:11 AM
There is no federal inheritance tax. CA also does not tax inheritances.
Read: Your U.S. Tax Return: Tax on Inheritances (http://taxipay.blogspot.com/2008/02/tax-on-inheritances.html)