There are 4 kids in our family and my mother is struggling with how the inheretance will be divideed when she dies. The house is worth about 200k and she has about 200k in the bank. What would you expect to pay in taxes for the 200k house as one child's inheretance and for the other 3 children at 100k each? I'm asking this question because if there is a difference in taxes from inheriting real estate versus the cash, then the divided estate may be much closer/ or not.

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Originally Posted by Retire56

There are 4 kids in our family and my mother is struggling with how the inheretance will be divideed when she dies. The house is worth about 200k and she has about 200k in the bank. What would you expect to pay in taxes for the 200k house as one childs inheretance and for the other 3 children at 100k each? I'm asking this question because if there is a difference in taxes from inheriting real estate versus the cash, then the divided estate may be much closer/ or not.

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This isn't a family law queston - this is a tax question and I am asking that it be sent over there for that reason.

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

Your mother should rite a will. Have joint name in bank account.

Your mother's assets are too small to be subject to federal estate taxes.