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Inheritance tax?

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mau99

Member
What is the name of your state (only U.S. law)? Massachusetts

If you inherit a house, do you have to pay an inheritance tax?
 


anteater

Senior Member
There is no federal inheritance tax. And Massachusetts does not have an inheritance tax.

There is a federal estate tax. Currently, an estate needs to be valued at more than $2 million to be subject to the federal estate tax.

There is also a Massachusetts estate tax. Currently, an estate needs to be valued at more than $1 million to be subject to the Massachusetts estate tax.
http://www.mass.gov/Ador/docs/dor/Publ/PDFS/estate08.pdf

If applicable, the executor of the estate is responsible for filing the return(s) and paying any tax due from the estate assets.
 

FlyingRon

Senior Member
Technically, if there were any significant gifts while he was still alive, it eats into his estate tax exclusion.
 

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