• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

tax on inheritance

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.



I live in Colorado. My grandfather died and left his 4 children his estate. My father was 1 of the 4, but he is deceased and his 4 children split his 25%. I received $11k. What taxes, if any, do I owe?
thanks, teresa



JUNE 4, 2001

From my understanding of income tax, there may not be any federal income tax for you to pay on this, but if Colorado has a state income tax, then you might have to pay a certain amount of state income tax.

[email protected]

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential