[Bob Keating]

Is cash inheritance taxable

[grammadidi]

Where do you live?

[Bob Keating]

Mother Lived in Maine. I live in Nevada

[ScottGem]

Depends on the amount.

[grammadidi]

I found this on the web:

"Although Nevada has no "inheritance tax", it is entitled to that portion of the federal tax that is allowed as a credit under federal tax law. Because of that, a copy of the federal estate tax return must be filed with the Nevada Department of Taxation. If the decedent's taxable estate includes assets located in one or more other states, each such state's inheritance tax laws must be followed.

There is more information for both States in question HERE

Hope this helps.

Didi

[AtlantaTaxExpert]

All issues covered; no comments!