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-   -   Inheritance tax (https://www.askmehelpdesk.com/showthread.php?t=279342)

  • Nov 10, 2008, 04:40 PM
    myshelly12
    Inheritance tax
    My father passed away in Cleveland, Ohio. He had a bank account with $100,000 in it. I will be receiving this money . I live in California. Will I have to pay taxes on the money when I receive it?
  • Nov 11, 2008, 01:47 AM
    MukatA

    There is no federal tax on inheritances. Also CA does not tax inheritances.
    Read: Your U.S. Tax Return: Tax on Inheritances
  • Nov 13, 2008, 09:59 AM
    AtlantaTaxExpert
    Agreed; the size of your father's estate is so small that no federal estate nor state inheritance taxes will apply.

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