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Bill
Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3152
Experience:  EA, CEBS - 35 years experience providing financial advice
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A client of mine lost her husband earlier this year. He left

Resolved Question:

A client of mine lost her husband earlier this year. He left 1/2 of the estate to her and 1/2 of the estate to 5 nieces. The amount of the estate is about $100,000. The wife is the executor of the estate, does an estate tax form need to be filed? Thanks
Submitted: 8 years ago.
Category: Tax
Expert:  Bill replied 8 years ago.

Since the gross estate is less than $2,000,000 a federal estate tax return does not need to be filed. If he was a resident of KY then a KY Inheritance Tax Return (Form 92A200 or 92A205) would have to be filed since the nieces are not beneficiaries that are exempt from inheritance taxes.

 

http://revenue.ky.gov/NR/rdonlyres/E171E289-0145-43BD-92DC-0BA60B3793A8/0/92A200P808.pdf

 

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