2006-06-06 15:59:14 · 4 answers · asked by meadow 1 in Business & Finance ➔ Taxes ➔ United States
No, taxes (if any) are paid by the estate. You can read more by following the link below. Here's the portion dealing with inheritances:
"No tax on the person receiving your gift or estate.
The person who receives your gift or your estate will not
have to pay any federal gift tax or estate tax because of it.
Also, that person will not have to pay income tax on the
value of the gift or inheritance received."
2006-06-06 16:43:28 · answer #1 · answered by just_the_facts_ma'am 6 · 1⤊ 0⤋
The decendent estate usually pays any estate tax, not the beneficiary.
2006-06-07 00:36:58 · answer #2 · answered by rockEsquirrel 5 · 0⤊ 0⤋
NO. Her estate takes care of all the taxes before you get it.
2006-06-07 16:43:21 · answer #3 · answered by Stargatebabe 4 · 0⤊ 0⤋
yes
2006-06-06 23:06:50 · answer #4 · answered by angelpockets 4 · 0⤊ 0⤋