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Estate Taxes

Wilmington, NC |
Filed under: Tax law

I am the executrix of my mother's estate. Distributions have been made. I was told you don't have to pay taxes on inheritance. I got my 1099-R and it states almost $10,000 is taxable. Does this mean that as executrix, that there needs to be money left in the estate to pay the taxable amount to each of the recipients or are they responsible for paying their own taxes? If the taxes have to be paid out of the estate, that would mean there would need to be enough to pay taxes on $40,000, and there is only $10,000 left to pay the decedent's taxes.

The 1099-R had my name on it, as it was my portion of the inheritance, but all the recipients got the same amount and each of them got a 1099-R with their name on it showing they are responsible for the same amount. Since Mr. Mcbride suggested I contact a CPA, I will do that. Actually, I had my taxes done, and was told that the estate doesn't pay taxes, but the people who inherit, must count it as income and, threfore, it is taxable. Ugh!

Attorney Answers 1


You need to be more specific about one thing - you say "I got a 1099-R". Does this mean the 1099-R had your name and Soc. Sec. number, your mothers, some other number?

I would go see a reputable CPA about this issue.

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