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You were left money in a will Do you have to pay taxes on it?

Updated: 12/7/2022

Wiki User

∙ 16y ago

Best Answer

There are many regulations regarding inheritence tax. You'll need to talk to your tax attorney or accountant.

Wiki User

∙ 16y ago

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Related questions

What is the term for money that is left over after all taxes are paid?

your net pay

Do you have to pay taxes when you are left money as a beneficiary from an IRA account?

taxes are paid upon withdrawal at a later rate

Do I have to pay taxes on a money market my mother left me when she passed away in Jan. 2015 if I roll it over into my annuity account?

Do I have to pay taxes on a money market my mother left me when she passed away in jan. 2015 if I roll it over into my annuity account?

What if you have no money to pay your taxes?

You are legally required to pay taxes. Taxes are only due on money you have earned therefore if you owe taxes you have had the money. If you do not pay the taxes you owe you will be sent to court and made to pay - even if you go to prison you will still owe the tax man.

Do you have to pay taxes on estate money received?

Yes, you will have to pay taxes on any estate money received.

Do athletes pay taxes on money won?

Yes they have to pay taxes on the winnings

Do republicans pay taxes?

No they raise money on taxes

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.

Can i give my daughter 10000.00 to pay for the wedding expenses for her wedding without her having to claim on her taxes?

Give your daughter the money by check and write on it at bottom left 'wedding gift' or give her the cash. There is no reason she would have to pay taxes on the money.

What are synonyms of taxes?

a synonom for taxes is pay or give money

Did you have to pay taxes to be a citizen of athens?

Citizen of Athens had to pay taxes with the rich not having to pay taxes. The rich did have to pay for thing that the tax money didn't cover.

What is money remaining after taxes?

I think it is when you have money left over after paying all of your taxes

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