Inheritance

2 replies
44 views

Forgot to ask. Do I report it on my state? I’m in California. It’s a cash inheritance

Ask the Experts - Energy - June 2023

Cindy4 12

Employee Tax Expert

Hi @robbrewer12 !

In California, there is no state-level estate or inheritance tax. If you are a California resident, you do not need to worry about paying an inheritance tax on the money you inherit from a deceased individual. If the inheritance produces income, there may be a tax obligation. Here is a good reference:

https://www.ftb.ca.gov/file/personal/income-types/gifts-and-inheritance.html

Hope this helps!

Cindy

**Please say "Thanks" by clicking the thumbs up icon in a post. ***Mark the post that answers your question by clicking on the "Mark as Best Answer"

JohnJ4

Level 2

California Has no state Level inheritance tax but if the inheritance is invested and produces income this would be taxable for state and federal tax in the year the income is receivec.