Do You Have to Pay Taxes on Inherited Money?

By Staff WriterLast Updated Apr 5, 2020 7:27:23 PM ET
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Quinn Dombrowski/CC-BY-SA 2.0

The requirement to pay taxes on inherited money depends on the amount that's inherited and on the beneficiary's state of residence. The federal government doesn't charge beneficiaries an inheritance tax, although some states levy a tax, according to TurboTax.

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