I Am Getting An Inheritance Of About $300,000. Do Have To Pay Taxes On That?
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Tax Professional Answers
Charles Woodson, EA
Inheritances are merely a transfer of assets (like bank accounts, stocks or other investments, houses, and personal property (such as cars and jewelry)) from the decedent to you as beneficiary. Tax on assets is imposed on the decedent’s estate if the total value of the decedent’s estate exceeds approximately $5.5 million.
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305 weeks ago