Do i have to pay taxes on inheritance / annuity from Iowa while living in Florida, my girlfriends mother in Iowa passed away and she had an estate and a couple of insurance policies. she has everything split 5 ways with family in Iowa and other states.

[Lisa995]

You'll probably get a K-1 from the estate, that will show how much of what you actually get is taxable income.  I'd assume you may need to file a non-resident Iowa return depending on how much money is involved.  Does Florida have an income tax?

[Carl]

Florida does not tax personal income. Generally, an inheritance is not taxable or reportable  on any tax return. But their are exceptions. For example, distributions from an inherited traditional IRA are taxable. But if anything inherited is taxable, you will receive a K-1 or some other tax reporting document at tax time, reporting the amount that is taxable to you. Otherwise, if you don't receive a tax reporting document, then there's nothing to report or pay taxes on.