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-   -   Is there any Federal Income tax on POD CDs & POD Savings to recipient? (https://www.askmehelpdesk.com/showthread.php?t=572592)

  • Apr 25, 2011, 06:28 AM
    stevogreto
    Is there any Federal Income tax on POD CDs & POD Savings to recipient?
    Just need this answered for Texas resident
  • Apr 25, 2011, 02:23 PM
    ebaines

    No - the recipient pays no taxes. The accounts are considered to part of the decedant's estate and hence its value may be subject to estate tax, but the beneficiary doesn't need to be concerned about that. Beneficiaries living in states that have an inheritance tax may be subect to that, but TX does not have an inheritance tax.

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