My english mother died in england and left me $400k. I pay California and fed income taxes. Do I owe taxes on this inhertance ? My wife inherited $30k . Does she owe taxes?
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My english mother died in england and left me $400k. I pay California and fed income taxes. Do I owe taxes on this inhertance ? My wife inherited $30k . Does she owe taxes?
You do not owe any tax to either the US federal government or the state of CA on inherited money . I can't speak as to whether you may owe any taxes to the UK.
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