Legal Question in Wills and Trusts in California
Taxes on inheritance?
My great-grandmother died and since my dad died before my great-grandmother, myself and my four siblings shared his share of the inheritance which was 6900.00 each. When the attorney who ws handling the will gave us our share,she with-held 1000.00 of it for taxes. It was the month of March 2004 that we recieved our inheritance and since this is the tax season is it possible to ever recover that by filing some type of return?
2 Answers from Attorneys
Re: Taxes on inheritance?
Your share is a percentage of the estate, right? The taxes have be deducted from the total estate and then the estate is divided between the heirs. Your portion would be diminished by your share of the taxes.
Re: Taxes on inheritance?
A final estate tax return must be filed.
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