Quote:
Originally Posted by John Mercier
When you inherit a property, you pay the estate tax - actually the estate does if the assets are over the current $13.61 million basis.
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Right, any estate tax owed is charged to the estate, not any party inheriting property from the decedent. And yes, an estate would need to be pretty big to incur an estate tax, under current law. (But don't forget to reduce the amount of the estate tax exemption by any gifts made by the decedent that exceeded the annual gift tax exclusion for the year when the gifts were made.)