Legal Question in Tax Law in New York

Inheritance tax

I will be receiving approx 13,000 from my grandmothers estate. My grandmother lived in Norway, will I be required to pay any tax on this?


Asked on 5/22/09, 10:45 am

1 Answer from Attorneys
Norman Nadel Norman Nadel, Esq.

Re: Inheritance tax

If it is a gift out of principal, there is no income tax to be paid. On the other hand, if it is a distribution of income earned by the estate, then it is treated as taxable income.

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Answered on 5/22/09, 11:13 am


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