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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
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I am son of deceased and half beneficiary of estate my half

Customer Question

I am son of deceased and half beneficiary of estate my half is taxed at 4.5%, other beneficiary is not related their half is taxed at 14% but i still pay half of the amount of the tax because it is taken out of the estate in a lump sum, is this correct? I live in Pa.
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.
The correct statement would be - these taxes are paid by the estate - not by beneficiaries.Inheritance taxes are based on the amount distributed to each beneficiary.So 4.5% inheritance tax is based on the value distributed to you.If the value distributed to use is more or less than the taxable amount - there might be an issue with the inheritance tax return.