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Beneficary Tax

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L

liverpool

Junior Member
What is the name of your state? CA
Could someone please tell me if I have to pay an inheritence tax and what is the percentage. :confused: I am to receive a sum of approximately $200,000 from my first cousin. Thank you.
 


B

Betty

Senior Member
liverpool said:
What is the name of your state? CA
Could someone please tell me if I have to pay an inheritence tax and what is the percentage. :confused: I am to receive a sum of approximately $200,000 from my first cousin. Thank you.
Click to expand...
Ca., $200,000 - no inheritance tax state or federal.
 
D

Dandy Don

Senior Member
Be sure to check with a local CPA or tax preparer to verify whether this is true, or call the IRS customer service number to find out yourself.
 
B

Betty

Senior Member
Ca. doesn't even have an inheritance tax & no fed. inheritance tax on $200,000. OP - you can call the IRS/CPA & verify though if you so desire.
 
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