ohio estate tax?

0 ⤊

Is money obtained from a "Transfer on Death" brokerage account subject to Ohio estate tax if the deceased resided in Ohio? What if the recipient resides in another state?

2006-11-23 08:44:08 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States

2 answers

Estate tax is paid by the estate, not the person that inherits. The residence of the heir is not relevant. I could not find if a 'transfer on death' account is considered part of the estate.

2006-11-23 12:49:40 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋

collect and transfer.....IRS is a machine not a person.....ask an accountant and you'll receive more valuable info then you think....you'll save more then you spend.
Now answer my question....

2006-11-23 16:52:27 · answer #2 · answered by Joey B 1 · 0⤊ 1⤋