NFT: Tax on inheritance?

Maybe we are related?

and I'll look into it for you.

To make sure the connection works. Don’t want to take chances.

But is there any tax I have to pay? All I know is the Shawshank rooftop scene where he asks the guy if his wife would double cross him

at least he's decent.

There is no tax on receiving an inheritance in the US. The estate tax is technically a tax on giving money away, not on receiving it. That may seem like a semantics difference if you know that Grandpa died with $10 million but you only get $8.2 million because the amount was taxed before it got to you. However the point is that there won't be a further reduction from taxes to whatever amount you get.

That's from American taxation. I have no idea what the laws are in Nigeria but bet that they don't have a real good way of collecting taxes from American's anyway.

In comment 14010026 fbdad said:

Quote:

There is no tax on receiving an inheritance in the US. The estate tax is technically a tax on giving money away, not on receiving it. That may seem like a semantics difference if you know that Grandpa died with $10 million but you only get $8.2 million because the amount was taxed before it got to you. However the point is that there won't be a further reduction from taxes to whatever amount you get. That's from American taxation. I have no idea what the laws are in Nigeria but bet that they don't have a real good way of collecting taxes from American's anyway.

Great news, Matt, lol. Spend it wisely

While there's no federal inheritance tax, a few states do including NJ.

Offshore holding account that's tax free in the name of Larry Pencilvania. It's totally safe and legal

How much is Lawdaughter going to get from the Nigerians?

I got a phone call and apparently the IRS is going to issue an arrest warrant out unless I send them some money.

.

In comment 14010228 steve in ky said:

Quote:

I got a phone call and apparently the IRS is going to issue an arrest warrant out unless I send them some money.

Holy crap ... me to. I have 24 hours to respond. I never had problems with the IRS before. I am calling them tomorrow.

trust your wife?