Ask Experts Questions for FREE Help !
Ask
    guidemark's Avatar
    guidemark Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 7, 2010, 12:20 PM
    Do I have to pay taxes on an inheritance
    My aunt passed away and I received $55,00 in inheritance. The executor of the will paid estate taxes. Do I have to pay any taxes on the inheritance? We live in OHio.
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
    Expert
     
    #2

    Feb 8, 2010, 07:03 AM

    No. There is no federal inheritance tax, and OH does not have a state inheritance tax - so no worries!

Not your question? Ask your question View similar questions

 

Add your answer here.


Check out some similar questions!

Inheritance received from Mexico, pay taxes in US/ [ 2 Answers ]

My father passed. He left my a house in Mexico as inheritance, which I sold. It when from his name to the new owners name, I got the Money. The money is sitting in a bank in Mexico. When I transfer that money to the US I know that the banks have to report anything over 10,000 to the IRS. When I...

How much tax will I need to pay for a ca inheritance? [ 3 Answers ]

I live in ca and would like to know how much if any tax I will need to pay when my father leaves me his house in Los Angeles county. I live in another county in Ca. My brother is the executor and my father said he has a living trust. Also how is the value of the property assessed. Does it matter if...

Inheritance tax-do we pay? [ 4 Answers ]

Hi- my parents will be getting a sum of money from my dad's aunt in Scottsdale Arizona who passed away last year. They are unsure of the amount- but it should be quite a bit- possibly thousands of dollars. She lived in Arizona- we live in Illinois. My dad's tax guy said they will have to pay 34%...

Do I pay taxes on inheritance from my mother [ 11 Answers ]

My mother just passed away and leave me 200,000 dollars from her investments, do I pay taxes.

What state do you pay inheritance taxes in? [ 1 Answers ]

If my father dies in Delaware, but all of his children live in different states, whose inheritance tax laws are followed, Delaware's or the state that the individual heir lives in?


View more questions Search