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Ratings. Guidance. The Right Lawyer.
are certificates of deposit subject to state and federal inheritance tax under MD estate tax laws
Willards, MD
Viewed 323 times.
Posted about 1 year ago in Tax
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inhertance tax:
do you have pay inhertance tax on cd if your name was on it
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Answers (2)
John M. Kaman
This attorney is licensed in California.
Posted about 1 year ago.
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The CD was in your name and given to you before the death of your benefactor? Under these facts the answer is probably not. Sometimes if a transfer occurs close to death the transferred property will be swept back into the estate. When were you given the CD?
Keith
Posted about 1 year ago.
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How much is the CD worth? There may be no federal tax on it but you need to talk to a local CPA or tax preparer to find out if there is any state tax liability. keith345@hotmail.com (Accountant)
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