I received an inheritance and need to know if I must pay IRS taxes on it?
The attorney sent a K-1 and informed me to contact my accountant. Whatever was to be paid , was not and not H & R block states a penelty is due.I believe there is not an inheritance tax in California.

TaxExpert on this site may be able to help you.

https://www.askmehelpdesk.com/taxes/inheritance-tax-9367.html

When did this person die? See the following:

California State Controller's Office - California Estate Tax Return (http://www.sco.ca.gov/col/taxinfo/estate/return/index.shtml)

http://www.sco.ca.gov/col/taxinfo/estate/return/et1_instructions.pdf

She died in Feb.2006
Mr Kemp, I received a reply from you about the inheritance taxes on my grammas estate and would appreciate if I could get further information.
The estate was in trust since 1991 in California. The estate was finalized in 2006. March to be precise. There were 11 persons who the moneys were to go to. I living in Georgia and received about 262,000.00. The attorney stated she wouold keep 40,000.00 to finish the taxes and paperwork until Feb.2007. I received a letter stating I need to add the moneys into my 2006 taxes a total of about 48,000.00 and there is a penelty from California as the taxes were not paid.
Is this my responsibility? Or should the attorney have paid these.
Can you Please help.. Thank you for any information you can provide in advance.
[email protected]
Augusta, Georgia