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

    Feb 6, 2008, 01:39 PM
    California Inheritance Tax (death tax)
    I inherited property in a different state a few months ago in 2007 and I need to know if there is any California tax because of this. The state I inherited the property has no inheritance tax so if there is tax in California, do I have to wait until the "possession of ownership" documents have been submitted to the courts? That will not be until March of 2008 so when do I file on the property if I rec'd it in 2007?

    Thanks for you guidance.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Feb 8, 2008, 10:27 PM
    Not unless the property is of substantial value (in excess of $2M).
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