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)
- Own Property Out of State? You Need a Living Trust - October 21, 2021
- Three Misconceptions That Lead to Estate Plan Mistakes - October 19, 2021
- Your Original Estate Plan May Not Be the Final Version - October 14, 2021
