do i have to enter the amount of my inheritance when filing taxes
An inheritance tax is a state tax that you pay when you receive money or property from the estate of a deceased person. Unlike the federal estate tax, the beneficiary of the property is responsible for paying the tax, not the estate. However, as of 2014, only eight states impose an inheritance tax.tates with an inheritance tax. The federal government does not have an inheritance tax. The eight states that impose an inheritance tax include Indiana, Iowa, Kentucky, Maryland, Nebraska, New Jersey, Pennsylvania and Tennessee.