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What about taxes on an inheritance from Canada of company shares and or realestate?
Question about taxes on inherited realestate and company shares. Receiver is american. What kind of taxes and is their a way to structure so company shares would not have to be sold to pay?
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The US does not have an inheritance tax, so the receiver does not have to worry about federal taxes on his inheritance. Depending on what state he lives in their may be a state inheritance tax. I take it that the decedant is not a US citizen or resident - correct? Hence no US estate taxes either. FYI - usually sales of estate assets is only necessary if the decedant's estate owes significant estate taxes, which may occur if the value of the state exceeds $5 million (for decedants who pass away in 2011 - that exemption amout varies by year).
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