questions & answers
Question: If I inherit monies from an estate from NJ do I have to pay an inheritance tax and or earned Income Tax on the monies inherited?
Answer: Taxation of your inheritance depends on the fair market value of the estate. For further information, see the following IRS website: http://www.irs.gov/Help-&-Resources/Tools-&-FAQs/FAQs-for-Individuals/Frequently-Asked-Tax-Questions-&-Answers/Interest,-Dividends,-Other-Types-of-Income/Gifts-&-Inheritances/Gifts-&-Inheritances
If I inherit monies from an estate from NJ do I have to pay an inheritance tax and or earned Income Tax on the monies inherited?
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