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You will have to pay tax on it.
I disagree with that answer. Based on my research, the estate has to pay taxes on it, the recipient receives the money tax free (as the taxes have already been paid before release to the inheritee). The only taxes the inheritee will end up paying is on the interest you collect from the bank at the end of the year. Its my understanding that this rule applies up to $650K inheritence, however that number changes every year, and there was recent legislation introduced a death tax (thanks to DEMOCRAT pig politicians) YOU elected these criminals who think they are entitled to your family earned money that they already taxed as your relatives earned it in their lives...THESE PIGS NEED TO BE THROWN OUT OF OFFICE, THEY REVEAL THEMSELVES AS THIEVES, AND YOU TOLERATE THIS OUTRAGE?!? Just look up who voted Yes for this and regardless of party (in this case it wont matter), vote them out. Its that simple.
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∙ 13y ago
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What is a sentence for inherit?
I will inherit a lot of money from my grandfather.
How do you send money abroad using usd?
How do i send money abroad using epayment usd
What if you inherit money?
Hurray!
What are the rights of a benificiary to money in a will if they are deceased?
People who are deceased do not inherit money. Many wills indicate alternate beneficiaries, but if there is no stated alternate, then the courts must rule on what happens to the estate.
If you inherit money but no one can find you what happens?
The money will go into an escrow account for a period of time. The time varies based on state laws, but could be as long as 7 years.
What did Charlie Chaplin's kids inherit?
Money?
What will bill gates children inherit?
money
How do you to get rich young?
Usually you inherit money.
People who inherit old money are called what?
People that inherit old money are called heirs and heiresses. It is an old term used to describe people with large amounts of inherited money.
Can a convicted felon inherit in the state of Ar?
As long as a convicted felon is not incarcerated, they can inherit money and property.
What happens if the primary beneficary is ill?
If they are living then they would inherit.
Do you have to pay inherit taxes on money willed to you in NC?
If you inherit money willed to you in the state of North Carolina, you must pay taxes on the money. Inheritance taxes are more than regular employee taxes.
