Question

 Do you have to pay income tax on an inheritance?

Answer Inheritance taxes in the United States vary by state, and by your relationship to the deceased person. Generally, a spouse pays no inheritance tax, and other inheritors pay varying amounts up to 20... Read More »
http://www.answerbag.com/q_view/2037304

Top Q&A For: Do you have to pay income tax on an inheritance

Do I have to pay income tax on inheritance?

People usually do not have to pay income taxes on money or items they get through inheritance, unless they inherit a 401k plan or individual retirement account (IRA), according to an article by Kev... Read More »
http://www.answerbag.com/q_view/2045412

Is Inheritance money to be reported on federal income tax as income?

It is possible to have some taxable income from an inheritance the source and the type of income that is inherited is what will determine this. Inherited pension or IRA. If you inherited a pension... Read More »
http://wiki.answers.com/Q/Is_Inheritance_money_to_be_reported_on_federal_income_tax_as_...

Do you pay income tax on an inheritance?

Depending on the state that you live in, you may have to pay income tax on inheritance if you are a descendant of the deceased person, distantly related to the deceased or a sibling of the deceased... Read More »
http://www.answerbag.com/q_view/2059701

Is there income tax on inheritance?

You usually don't have to pay income taxes on your inheritance. If the amount of the estate exceeds the amount exempt from federal taxes ($3.5 million as of 2009), the estate administrator must pay... Read More »
http://www.answerbag.com/q_view/2094340


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