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I live in Pa. MY Mother , Brother and I own a home. All 3 names are on the deed. If my Mother Passes away will my brother and I have to pay an inheritance tax? thank-youWhat is the name of your state (Pennsylvania)?
Yes, PA Inheritance Tax would be due on the value of your mother's 1/3 interest in the home. Assuming that her interest passes to you and brother through right of survivorship or by means of a will and probate, the tax rate would be 4.5%.
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