You are not required to report an inheritance as income for income tax purposes, but there are transfer taxes that can be applicable.
Topics covered in this white paper include:
- Income Taxes
- Federal Estate Tax
- State-level Estate Tax
- Inheritance Tax
- Tax Efficiency Strategies
- Conclusion
- References
Click here to read the whole article or download the PDF.
Latest posts by Larry Parman, Attorney at Law (see all)
- Consequences of Modifying an Irrevocable Trust - October 16, 2019
- What Is the Uniform Transfer to Minors Act? - October 15, 2019
- Trusts for Privacy - October 9, 2019
