March 2008 Me and my Father had a Joint checking account, he has recently passed on. I had his name removed from the account. Shortly later I wrote a check from that account to pay his funeral expenses. My question is do I have to pay a Inheritance Taxe on that money or not?

:rolleyes:

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Originally Posted by peekin548

March 2008 Me and my Father had a Joint checking account, he has recently passed on. I had his name removed from the account. shortly later i wrote a check from that account to pay his funeral expenses. my question is do I have to pay a Inheritance Taxe on that money or not?

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There is no federal tax on inheritances. Most of the states do not tax inheritances. For your state, check at the state web site. For more information on inheritance taxation read: Your U.S. Tax Return: Tax on Inheritances

The portion of the checking account that your father put into the account IS part of his estate.

Estate taxes MAY be due, depending on the size of your father's estate (no estate taxes are due for estates less than $2 million).