turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Is a home in Arkansas protected from inheritance "death" tax if it is in a Revocable Trust with Homestead protection?

In Arkansas Is the beneficiary of a Revocable Trust of a home with Homestead protection still responsible to pay inheritance "death" tax after the Grantor passes away? Or are they protected under the Homestead Act?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply

Is a home in Arkansas protected from inheritance "death" tax if it is in a Revocable Trust with Homestead protection?

This is what I found on Google.

There are two types of taxes that may be assessed upon an estate at the state level: estate and inheritance. State estate taxes, are similar to federal taxes because they are based upon the value of a decedent‘s assets. There are only fifteen states that have an estate tax. Arkansas does not. Each state sets its own exemption level and tax rate.

Arkansas also does not assess an inheritance tax, which is the second type of tax seen at the state level. There are only seven states that have an inheritance tax. Of those seven states, Maryland and New Jersey are the only ones that have both types of state level taxes.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question