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    stevens_d's Avatar
    stevens_d Posts: 1, Reputation: 1
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    #1

    Jan 19, 2009, 07:13 AM
    Taxes on inheritance
    Do I have to pay federal or state(California) income taxes on money inherited from a simple trust fund?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 20, 2009, 09:55 AM
    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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