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  • 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/

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