I Live In Ny Do I Have To Pay An Inheritance Tax?


5 Answers

Jack Bauer Profile
Jack Bauer answered
Generally speaking, any money you inherit from a parent is not taxable on your federal tax return. Do not include in taxable income money you receive in gifts or inheritance. (IRS publ 17, page 89) However, if the property later gains in value, the increase may be taxable.
SidrA Tasneem Profile
SidrA Tasneem answered
Yes you have to pay this inheritance tax as being US resident you have to pay this additional tax as a beneficiary of this amount. This inheritance tax is paid by all US nationals. In some part of world this inheritance tax is also called as death tax.
Anonymous Profile
Anonymous answered
I will inherit approx 14,000 form my grandmothers estate.  She lived in norway and I will receive this money via transfer to my bank.  Do I need to pay tax on this?
Lucja Kaminska Profile
Lucja Kaminska answered
I inherited money from the stock approximately 150 000$ after my husband death, do I have to pay inheritance tax?

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