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RayAnswers, Attorney
Category: Estate Law
Satisfied Customers: 36936
Experience:  Texas lawyer for 30 years in Estate law
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I will receive 81K from a friends will. How much

Customer Question

I will receive 81K from a friends will. How much for taxes?
Submitted: 1 year ago.
Category: Estate Law
Expert:  RayAnswers replied 1 year ago.
Hi and welcome to JA. I am Ray and will be the expert helping you tonight.
Here this is under the federal lifetime limits of $5,430,000 so no federal taxes due.California has eliminated state inheritance taxes.There would be no taxes due on this amount, it would be tax free here.
Reference
http://www.sco.ca.gov/ardtax_estate_tax.html
I appreciate the chance to help you today.Please let me know if you have more follow up.Thanks again.

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