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

    Dec 27, 2009, 10:56 AM
    Trust Fund Inheritance Tax in Illinois
    I've inherited a trust fund. Do I have to pay any federal or state of Illinois taxes?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Dec 27, 2009, 03:33 PM
    No federal or state inheritance tax, but you will pay income taxes on the distributions from the trust.
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