do you need to pay taxes on mutual funds you inhearted ?

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2007-10-22 06:57:48 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes

I don't think inheritance taxes start until the estate exceeds $200,000,and it's to be raised to $500,000 soon...

2007-10-22 09:57:31 · answer #1 · answered by $andman 6 · 0⤊ 0⤋

Not when you inherit them, but when you sell them you do if you make a profit.

2007-10-22 14:17:31 · answer #2 · answered by Judy 7 · 1⤊ 0⤋

not till you sell them and then only if you make a profit.

2007-10-22 22:32:34 · answer #3 · answered by elf_18052 1 · 0⤊ 0⤋

yep it's the death tax. people want to leave you money when they pass on, but unfortunately the government wants it share too.

2007-10-22 14:06:35 · answer #4 · answered by sa_183327 2 · 0⤊ 4⤋