Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   Taxes on inheritance (https://www.askmehelpdesk.com/showthread.php?t=305674)

  • Jan 19, 2009, 07:13 AM
    stevens_d
    Taxes on inheritance
    Do I have to pay federal or state(California) income taxes on money inherited from a simple trust fund?
  • Jan 20, 2009, 09:55 AM
    AtlantaTaxExpert
    Negative.

    The only time inherited money is subject to income taxes is if the source is an tax-deferred account, such as a 401K or an IRA or an annuity/

    • All times are GMT -7. The time now is 02:58 AM.