My dad died in April of 2013. He left me and my siblings approx $53,000 each. We live in Texas. Will we have to pay taxes (or anything else) on that inheritance? Thanks.
My dad died in April of 2013. He left me and my siblings approx $53,000 each. We live in Texas. Will we have to pay taxes (or anything else) on that inheritance? Thanks.
There is no inheritance tax in Texas
Agreed, and the amount is way too small of federal estate taxes, which are paid by the estate BEFORE you get the inheritance.
There is no federal tax for inheritances.
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