keithmahan
Nov 7, 2010, 05:15 AM
Do I claim it on my tax return this year? Do I have to pay federal or state tax on it? I live in Florida.
Thanks...
AtlantaTaxExpert
Nov 8, 2010, 03:28 PM
Negative; in 2010, there is effectively NO federal estate tax, and I do not blieve that Florida has either an estate or inheritance tax.
For sure, there are NO income taxes at either the federal or state level.
MukatA
Nov 9, 2010, 04:13 AM
There is no federal estate tax in 2010. Also amount of $800,000 is below the estate tax exemption limit for past years.