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State
Inheritance Tax, and Federal or State Estate Tax, are not a part of the Income Tax system.
TurboTax only supports Income Tax filings.
Inheritance Taxes and Estate Taxes are not allowable deductions, in general, on Income Tax filing
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The ONLY STATES with INHERITANCE TAX on bequests to beneficiaries are:
- Iowa - no tax assessed if decedent's estate is under $25,000
- Kentucky
- Maryland -lowest top tax inheritance tax rate of 10%; small estates of under $30,000 exempt
- Nebraska -highest top tax inheritance tax rate of 18%
- New Jersey
- Pennsylvania
All six states exempt spouses, and depending on state, exemption varies for immediate relatives.
If this posted response is useful to you, please click on the upraised hand in the lower left of this post. Thank you. Scruffy Curmudgeon--PFFM/ IAFF, retired FireFighter/Paramedic - Locals 718/30, Veteran USAR O3 AIS/ASA '65-'67
NOT INTUIT EMPLOYEE
USAR 64-67 AIS/ASA MOS 9301 - O3
- Just donating my time
**Say Thanks by clicking the thumb icon in the lower left corner -it means nothing but makes those than answer feel wanted.
