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. ))

http://www.state.nj.us/treasury/taxa...nce/itnrai.pdf

If you go down to page 23 - the first 10K or so are exempt...

Excellent! Thanks ;-)