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Ed Johnson
Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience:  GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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we are German couple with two adult children living in Texas,

Resolved Question:

we are German couple with two adult children living in Texas, is the inheritance law different for us especially the taxation of the inheritance?
Submitted: 5 years ago.
Category: Tax
Expert:  FiveStarLaw replied 5 years ago.
Are you asking whether your estate will be subject to US taxes when it passes to your children? Are your children US citizens?
Customer: replied 5 years ago.
None of us has US citizenship. My take is that the property in TX falls under texas law.
aditionally, the inheritage taxes and proceedings are supposedly different.
Can you expand on this?
Expert:  FiveStarLaw replied 5 years ago.
I am going to transfer you to a tax expert.
Expert:  Ed Johnson replied 5 years ago.

Dear edith,

 

Thank you for your question. I have been asked to take a look at this question.

 

You are correct in one respect. Property located in Texas is subject to estate and inheritance taxes.

 

With regard to non-resident and resident aliens. The U.S. does not have an inheritance tax, but Texas does. The laws for inheritance of property and assets situs in texas is hte same for you as it is for citizens.

 

The federal does not have a inheritance tax, but it has a estate tax. Generally there is a gift tax and estate tax exclusions totalling 3 million dollars. so that in general, for federal estate taxes, the first 3 million of an estate is not taxed.

 

However on non-residents and resident aliens (not u.s. citizens), the marital exclusions/deduction is generally lost, and the gift tax exclusion instead of being 1 million is only 250,000.

 

http://nysscpa.org/cpajournal/old/13665010.htm

 

http://www.pinkernell.de/estate.htm

 

 

Ed Johnson, Tax Preparer
Category: Tax
Satisfied Customers: 10760
Experience: GPHR Cert; U.S. Treasury Tax Advocacy Panel appointee
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