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macmanmike6100 · 06-11-2006, 09:35 PM

I did a search and only one Tilted Philosophy thread came up, so here goes:

Received a tiny inheritance ($5K) that, hopefully, goes untaxed (ha!). The funds are in a trust that I can access, but I want to know what taxes I will owe.

I'm a NY resident, although the deceased was a NJ resident. NY has no inheritance tax, but NJ does. How does this work?

Any insights/links would be great...thanks! (( I'd like to have some info regarding this before I go to my accountant about it, of course. ))

06-11-2006, 09:35 PM	#1 (permalink)
macmanmike6100 High Honorary Junkie Location: Tri-state.	Inheritance in NY/NJ I did a search and only one Tilted Philosophy thread came up, so here goes: Received a tiny inheritance ($5K) that, hopefully, goes untaxed (ha!). The funds are in a trust that I can access, but I want to know what taxes I will owe. I'm a NY resident, although the deceased was a NJ resident. NY has no inheritance tax, but NJ does. How does this work? Any insights/links would be great...thanks! (( I'd like to have some info regarding this before I go to my accountant about it, of course. )) Last edited by macmanmike6100; 06-12-2006 at 01:02 AM..