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    Lemm99's Avatar
    Lemm99 Posts: 1, Reputation: 1
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    #1

    Jan 5, 2010, 08:26 AM
    After probate and taxes paid do individuals have to pay income tax on the inheirtance
    After probate and taxes paid do individuals have to pay income tax on the money they inheirit? It seems that the money would have already been taxed once or twice.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Jan 5, 2010, 08:36 AM

    No, inheritances are not taxed.
    Five Rings's Avatar
    Five Rings Posts: 459, Reputation: 7
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    #3

    Jan 5, 2010, 08:37 AM

    Inheritance is not taxed on the Federal level. Check your State's rules regarding inheritance taxes (if any).
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