How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4782
Type Your Tax Question Here...
bigduckontax is online now

I need some help with an inheritance tax question and I would

Customer Question

I need some help with an inheritance tax question and I would like someone to call me today if possible
Submitted: 3 years ago.
Category: Tax
Expert:  bigduckontax replied 3 years ago.
Hello, I'm Keith and happy to help you with your question.
Easy way is to tell me what your problem is. In general terms Inheritance Tax (IT) kicks in if an estate exceeds 325K on death, but that is inflated by spouse and charitable etc bequests. IT is levied at 40%, flat rate. There is no Capital Gains Tax on death, all assets being rolled up into the deceased's estate.