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    private9's Avatar
    private9 Posts: 9, Reputation: 3
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    #1

    Oct 5, 2007, 03:57 PM
    Inheritance taxes
    After all expenses are paid, I and my brother and sister will be dividing about 100K from our mother's estate. Are inheritance taxes paid before the division is made or by each of us after we take possession of the funds? How are the taxes figured? Thank you.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Oct 5, 2007, 05:56 PM
    For that amount of money, there should be NO inheritance taxes from the state. However, to be sure, contact your state tax office.

    There are, for sure, no federal estate taxes.
    private9's Avatar
    private9 Posts: 9, Reputation: 3
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    #3

    Oct 5, 2007, 08:32 PM
    Thank you so much! I really didn't know how this worked.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Oct 5, 2007, 10:59 PM
    Glad to help.

    Do not forget to make that phoen call to the state tax department.
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