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bmimmzy Asked July 2015
What is the percentage of inheritance tax?
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After selling my parents house and paying off all of the expenses, how much inheritance tax is taken from the balance of the money left over.
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4 Answers
MaggieMarshall Jul 2015
How much will you NET from the sale and what state do you live I'm?
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geewiz Jul 2015
Per your profile, California has no estate tax or an inheritance tax. The Federal government does not tax estates below $5.4 million. But in case there are extenuating circumstances, you really should consult an attorney.
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JessieBelle Jul 2015
geewiz is correct. If the estate was large enough that there was an inheritance tax, then it should be handled by an attorney. Many of us wish we were so lucky. :)
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my3kidsok Jul 2015
What about transferred deed before they pass. Im still not sure what kind of taxes i will pay. Its a source of stress right now. Ugggh. Yes, unfortunately we will need lawyer to figure out all these details. Chaching chaching!
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