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how do i find out if i have to pay taxes in an inhertance

how do i find out if i have to pay taxes in an inhertance
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6/2/2011
Ellen
Ellen, Tax Attorney
Category: Tax
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Hello,

Thank you for your question. I will strive to provide you with legal information to assist you. If my answer is not clear to you, I encourage you to ask me for clarification by using the reply button.

New Mexico does not have an inheritance or estate tax. However an inheritance is included in a taxpayer's gross income
Ellen
Ellen, Tax Attorney
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Satisfied Customers: 36,714
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Customer reply replied 6 years ago

where and whendo i report inhertance this year or do i what till next year when i do my taxes

 

You will need to report the inheritance on your New Mexico income tax statement for the year in which the inheritance is received
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