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View Full Version : Does California have a tax on receiving an inharitance. Also do you have to pay feder


needing_help
Jan 13, 2012, 11:45 PM
My grandmother just left me some money after passing away. Do I need to pay taxes on that money to the feds and the state of ca?

MukatA
Jan 14, 2012, 05:35 AM
There is no federal inheritance tax. Also CA does not have inheritance tax.

AtlantaTaxExpert
Jan 19, 2012, 09:28 AM
There MAY be estate taxes if your mother's estate is large enough, but the estate pays those taxes BEFORE distributing assets to the heirs.

It is likely your mother's estate is not large enough to have to pay an estate tax to either California or the IRS.

needing_help
Jan 19, 2012, 08:54 PM
Thank you for your answer they are very helpful.

needing_help
Jan 19, 2012, 08:54 PM
Thank you for your answer they are very helpful.

needing_help
Jan 19, 2012, 09:01 PM
Thank you for your anwers they are very helpful.