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

    Mar 30, 2014, 12:09 PM
    How much must I pay on inheritance money received?
    I received about $145,000.00 from my parents estate after the Executor paid the Estate Taxes. My parents lived, as do I, in Washington, State. Must I pay any additional Taxes, State or Federal, on the amount I received, and If so how much?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Mar 30, 2014, 02:03 PM
    Any taxes should be the responsibility of the state. WA does not collect a tax on inheritances, but levies a tax on the value of the estate. This tax is then paid by the estate before distribution to the heirs.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Mar 30, 2014, 02:21 PM
    For sure, there is NO federal inheritance tax.

    I am not sure about Washington state, but a phone call or email to the Washington state tax officials should get you an answer.

    I suspect NOT, because the estate would have withheld taxes if there were such a tax.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #4

    Mar 31, 2014, 05:12 AM
    Quote Originally Posted by AtlantaTaxExpert View Post
    For sure, there is NO federal inheritance tax.

    I am not sure about Washington state, but a phone call or email to the Washington state tax officials should get you an answer.

    I suspect NOT, because the estate would have withheld taxes if there were such a tax.
    Just to confirm - Washington State has no inheritance tax. So no taxes at all are due from the heir on the inheritance.
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