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-   -   Inherited (https://www.askmehelpdesk.com/showthread.php?t=65710)

  • Feb 23, 2007, 04:36 PM
    syed Rizvi
    Inherited
    Do I need to pay tax on money I inherited. Thaks
  • Feb 23, 2007, 04:59 PM
    Fr_Chuck
    Depends on how much, where you live and a lot of factors
  • Feb 24, 2007, 12:16 AM
    AtlantaTaxExpert
    Gentlemen:

    The heirs pay NOTHING in terms of taxes on what they inherit.

    The ESTATE pays the federal estate and state inheritance/death taxes, then distributes what's left to the heir. Except for distributions from tax-deferred accounts (IRA, 401Ks, 403Bs, etc.), what the heirs get is TAX-FREE!

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