Ask Terry Questions Taxes on parents estate

Taxes on parents estate

By Terry Savage on October 13, 2023 | Wild Card

Mom is deceased. House was in a trust w my 4 siblings. Will I have to pay any taxes on my portion of the disbursement after house is sold.

Terry Says

Not unless her estate was worth well over $12 million!! (In that case, the estate would pay taxes.) Inheritances are received tax-free.



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