Legal Question in Wills and Trusts in Ohio

received cd from grandfather that was pod was 50000 he lived in mi i live in ohio who if anyone do i pay taxes to for this ohio, mi or irs or all ?and if i do owe tax how do i figure amount?


Asked on 9/24/10, 1:11 am

1 Answer from Attorneys
Elizabeth Schmitz Elizabeth S. Schmitz Attorney at Law

You will owe income taxes on any interest earned after your grandfather's date of death.

There may be Michigan estate or inhertiance taxes to be paid. You should check with the attorney for your grandfather's estate.

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Answered on 9/29/10, 5:55 am


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