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    robmartin's Avatar
    robmartin Posts: 2, Reputation: 1
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    #1

    Dec 30, 2009, 05:40 PM
    Receiving an Inheritance
    I am receiving an inheritance from my aunt from scotland (50,000 pounds). Will I have to pay any taxes on said money and if so how much. I live in New York. Also do I need to claim it when filing income tax return.
    rosemcs's Avatar
    rosemcs Posts: 325, Reputation: 47
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    #2

    Dec 30, 2009, 06:19 PM

    Mukata has a better answer...
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #3

    Dec 30, 2009, 06:39 PM

    There is no federal tax on inheritances from U.S. sources or foreign sources. You do not claim it on your federal tax return. Your U.S. Tax Return: Tax on Inheritances
    robmartin's Avatar
    robmartin Posts: 2, Reputation: 1
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    #4

    Dec 31, 2009, 10:00 AM

    Thank you both.
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