Ask Experts Questions for FREE Help !
Ask
    cjindiana's Avatar
    cjindiana Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 11, 2010, 08:20 PM
    Indiana state tax in inheritances from an aunt from abroad
    My aunt abroad wishes to name me as one of the inheritors of monies from her estate. What are Indiana State tax implications. What form would I have to fill. Thank you
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Feb 12, 2010, 01:30 AM

    If Indiana taxes inheritances, you will report this as inheritance but only when you inherit it; not now.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
    		  
    #3

    Feb 12, 2010, 07:17 AM

    Indiana does indeed have an inheritance tax. You are allowed a $500 exemption (based on your relationship to the deceased you fall into "Class B" ). The remainder is taxed between 7% and 15%, depending on the value of the inheritance. Instructions are here:
    http://www.in.gov/dor/files/ih-6inst.pdf
    cjindiana's Avatar
    cjindiana Posts: 2, Reputation: 1
    New Member
    		  
    #4

    Feb 12, 2010, 09:01 AM
    Thank you ebains and Mukata, appreciate your quick response, and have a good, wonderful day, this will really help.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
    		  
    #5

    Feb 13, 2010, 02:39 PM

    I don't really know much about inheritance taxes, but the Indiana form linked to states:
    When To Use This Form
    Use this form only if decedent was a resident of the State of Indiana
    At the time of death. For a non-resident decedent, contact the Department of Revenue, Inheritance Tax, Indiana Government Center
    North, 100 North Senate Ave. Room N248 or call (317) 232-2156
    For the correct return for a non-resident decedent. The mailing address
    Is P.O. Box 71, Indianapolis, Indiana, 46206-0071.
    Here decedent (the aunt) would not be a resident of Indiana. I suspect that no inheritance taxes may be due.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

On the Indiana State Tax Return can I take the property tax deduction? [ 1 Answers ]

I received the 2008 property tax bill and paid the bill. I purchased the home in 2008 and the seller paid property taxes through an adjustment on the closing statement. The only qualification I see about property taxes is that they have to be the taxes for your primary residence and I satisfy...

Tax on inheritances [ 1 Answers ]

I, along with my siblings, received a $1836 "redemption due to death" from a John Hancock 403(B) account, that my father held until his passing in April of 2008. Is all or any of this distribution taxable on either my federal or state (Calif) returns?

State of Indiana Tax garnishement [ 1 Answers ]

I was the president of a company where the payroll taxes were imbesseled by the accountant. The state and federal government harnessed me with the tax liability. The taxes were incurred during 1992 and 1993. I did file bankruptcy in 2004 and we did list the Indiana Department of Revenue and the...

State tax returns for Indiana and part time New Jersey resident [ 3 Answers ]

I need some help with how to file state tax returns. I worked less than 2 months in NJ in 2007 and my family still live there during this time. The rest of 2007 I worked and lived in IN. How should I handle my state tax returns? Should I file a full time IN resident and part time NJ state...

State tax returns for Indiana and part time Pennsylvania resident [ 1 Answers ]

I need some help with how to file state tax returns for my parents. My parents were living in Indiana most of 2007 until they sold their home a few days before Christmas. Now, they live in Pennsylvania. I know that for federal return, it doesn't matter where they live, but I'm uncertain how to...

View more questions Search