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-   -   What Can I expect to pay on my Mom's estate (https://www.askmehelpdesk.com/showthread.php?t=154220)

  • Nov 20, 2007, 01:21 PM
    QuestionsInCopper
    What Can I expect to pay on my Mom's estate
    My brother gave my Mom $20,000 in one year. Before the year was over my mom passed away, leaving everything to my sister and I. My brother didn't want the money back, but will be claiming it on his taxes as a gift to my mom. We know that we will have to claim it on her estate taxes, but I'm not sure how much we will have to pay in taxes. Can someone tell me how much I can expect to pay?

    Thank you
  • Nov 20, 2007, 02:33 PM
    AtlantaTaxExpert
    Unless your mother was extremely wealthy (not likely since your brother gave her $20K), NO TAXES will be due on her estate.

    The first $1.5 MILLION of an estate is exempt from estate taxes.

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