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Author: irasmilo Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121150  
Subject: Re: Beneficiary of Estate Date: 4/29/2001 1:52 PM
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Irv,

There are no federal tax implications to you "upon receipt" of the estate. You will, of course, be responsible for income taxes on any income generated by the inherited assets when they are in your possession. You will probably be responsible for income taxes on income generated within the estate if you receive a distribution from the estate (distributions are usually income first, then corpus).

Your state obligations may be different.

Ira

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