Taxes owed on bank account inheritance? - Ask TaxGuru

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07-05-2017, 07:14 PM

Silber101 is offline

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Join Date: Jul 2017

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Taxes owed on bank account inheritance?

Hello,

My wife passed away and her bank savings account ($42,000) was transferred to me as I was the sole heir. I live in California but she was living in Oregon at the time, the bank is based in Oregon as well. I am unclear on what Federal and/or State taxes I may owe on this?

Thanks!

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