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Asked 4/27/2008

What is the maximun inheritance that you can receive before paying taxes on it?

I am to inherit approx. 200000$. Will I have to pay gift or inheritance taxes on this money on the Federal & state levels?

 
 
 
 
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Answer 1/2 - Submitted 5/29/2010

Federal tax starts at over $1+million and state law varies but you can find this information on the web.

 
 

Answer 2/2 - Submitted 5/29/2010

Just having researched this, the federal tax starts at $1million,500.00. The states vary in the taxation but most follow the federal guideline, you need to look up the death or inheritance tax for your state.

 
 
 
 
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