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| *Loan,banking and credit>>>real estate tax |
If family members are in a real estate holding corp. & one dies do the others have to pay inheritance taxes? |
If family members are in a real estate holding corp. & one dies do the others have to pay inheritance taxes? More information is needed to answer this question. For US federal estate taxes, generally no tax is due unless the size of the estate, less amounts going to a citizen spouse or a charity, is more than $2 million. Some states also assess death taxes. Depends on the nature of the ownership. If the real estate holdings are held in common, in other words the departed could have sold their shares without the consent of the other owners, there may be tax implications. If the real estate holdings are held jointly, the ownership share reverts to the group. With that being said... I could be wrong. You need a tax attorney. |
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