Rocksolid Light

Welcome to novaBBS (click a section below)

mail  files  register  newsreader  groups  login

Message-ID:  

The speed of anything depends on the flow of everything.

interests / misc.consumers.frugal-living / Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

SubjectAuthor
* Rule-of-thumb guide as to how much to expect to pay for inheritance taxesgggg gggg
+* Re: Rule-of-thumb guide as to how much to expect to pay forJohn Weiss
|`- Re: Rule-of-thumb guide as to how much to expect to pay forLeo Isenteze
`* Re: Rule-of-thumb guide as to how much to expect to pay forgggg gggg
 `* Re: Rule-of-thumb guide as to how much to expect to pay forJohn Weiss
  +- Re: Rule-of-thumb guide as to how much to expect to pay forgggg gggg
  `- Re: Rule-of-thumb guide as to how much to expect to pay forgggg gggg

1
Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1060&group=misc.consumers.frugal-living#1060

  copy link   Newsgroups: misc.consumers.frugal-living
X-Received: by 2002:a05:6214:178b:: with SMTP id ct11mr10194232qvb.61.1621392405753;
Tue, 18 May 2021 19:46:45 -0700 (PDT)
X-Received: by 2002:a25:493:: with SMTP id 141mr9632471ybe.93.1621392405613;
Tue, 18 May 2021 19:46:45 -0700 (PDT)
Path: i2pn2.org!i2pn.org!weretis.net!feeder8.news.weretis.net!proxad.net!feeder1-2.proxad.net!209.85.160.216.MISMATCH!news-out.google.com!nntp.google.com!postnews.google.com!google-groups.googlegroups.com!not-for-mail
Newsgroups: misc.consumers.frugal-living
Date: Tue, 18 May 2021 19:46:45 -0700 (PDT)
Injection-Info: google-groups.googlegroups.com; posting-host=32.132.12.210; posting-account=VREO7AoAAABGo_TnRXAj3kKbki4Qex7X
NNTP-Posting-Host: 32.132.12.210
User-Agent: G2/1.0
MIME-Version: 1.0
Message-ID: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
Subject: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes
From: ggggg9...@gmail.com (gggg gggg)
Injection-Date: Wed, 19 May 2021 02:46:45 +0000
Content-Type: text/plain; charset="UTF-8"
 by: gggg gggg - Wed, 19 May 2021 02:46 UTC

Is there one?

What if a person has been living in their parents' home and their parents die and they inherit the home?

When selling the home, what percentage of the selling price of the home can they expect to pay in inheritance taxes?

20%? 30%? 40% More?

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<s834lk$32n$1@dont-email.me>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1061&group=misc.consumers.frugal-living#1061

  copy link   Newsgroups: misc.consumers.frugal-living
Path: i2pn2.org!i2pn.org!eternal-september.org!reader02.eternal-september.org!.POSTED!not-for-mail
From: jrweiss9...@comcast.net (John Weiss)
Newsgroups: misc.consumers.frugal-living
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
Date: Wed, 19 May 2021 06:43:14 -0700
Organization: A noiseless patient Spider
Lines: 13
Message-ID: <s834lk$32n$1@dont-email.me>
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
Mime-Version: 1.0
Content-Type: text/plain; charset=utf-8; format=flowed
Content-Transfer-Encoding: 7bit
Injection-Date: Wed, 19 May 2021 13:43:16 -0000 (UTC)
Injection-Info: reader02.eternal-september.org; posting-host="3e0d70e131fa22c2c7f821a376901234";
logging-data="3159"; mail-complaints-to="abuse@eternal-september.org"; posting-account="U2FsdGVkX1/H8dZEWzwllx6kc0gp6MDr"
User-Agent: Mozilla/5.0 (Windows NT 10.0; Win64; x64; rv:78.0) Gecko/20100101
Thunderbird/78.10.2
Cancel-Lock: sha1:D7AZVgYib5gFf0MwJhH+JIeK0Jw=
In-Reply-To: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
Content-Language: en-US
 by: John Weiss - Wed, 19 May 2021 13:43 UTC

On 05/18/21 19:46, gggg gggg wrote:
> Is there one?
>
> What if a person has been living in their parents' home and their parents die and they inherit the home?
>
> When selling the home, what percentage of the selling price of the home can they expect to pay in inheritance taxes?
>
> 20%? 30%? 40% More?

0%. The estate pays estate (inheritance) taxes, not the recipients.

Federal exemption on inheritance taxes is over $5 Million. State
exemptions may be less, though (e.g., $2 Million in WA).

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<s84nl4$166o$1@gioia.aioe.org>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1063&group=misc.consumers.frugal-living#1063

  copy link   Newsgroups: misc.consumers.frugal-living
Path: i2pn2.org!i2pn.org!aioe.org!R0c4TOkLF9U1rvBslA38Sg.user.gioia.aioe.org.POSTED!not-for-mail
From: Leo...@Isenteze.org (Leo Isenteze)
Newsgroups: misc.consumers.frugal-living
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
Date: Thu, 20 May 2021 00:13:17 -0400
Organization: Aioe.org NNTP Server
Lines: 21
Message-ID: <s84nl4$166o$1@gioia.aioe.org>
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
<s834lk$32n$1@dont-email.me>
NNTP-Posting-Host: R0c4TOkLF9U1rvBslA38Sg.user.gioia.aioe.org
Mime-Version: 1.0
Content-Type: text/plain; charset=utf-8; format=flowed
Content-Transfer-Encoding: 8bit
X-Complaints-To: abuse@aioe.org
User-Agent: Mozilla/5.0 (Windows NT 6.1; Win64; x64; rv:78.0) Gecko/20100101
Thunderbird/78.10.2
Content-Language: en-US
X-Notice: Filtered by postfilter v. 0.9.2
 by: Leo Isenteze - Thu, 20 May 2021 04:13 UTC

On 5/19/2021 9:43 AM, John Weiss wrote:
> On 05/18/21 19:46, gggg gggg wrote:
>> Is there one?
>>
>> What if a person has been living in their parents' home and their
>> parents die and they inherit the home?
>>
>> When selling the home, what percentage of the selling price of the
>> home can they expect to pay in inheritance taxes?
>>
>> 20%?  30%?  40%  More?
>
> 0%.  The estate pays estate (inheritance) taxes, not the recipients.
>
> Federal exemption on inheritance taxes is over $5 Million.  State
> exemptions may be less, though (e.g., $2 Million in WA).

Inheritance taxes are not the same as estate taxes.

Inheritance tax is a state tax on assets inherited from someone who died.

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1064&group=misc.consumers.frugal-living#1064

  copy link   Newsgroups: misc.consumers.frugal-living
X-Received: by 2002:a05:6214:934:: with SMTP id dk20mr3567533qvb.26.1621489253668;
Wed, 19 May 2021 22:40:53 -0700 (PDT)
X-Received: by 2002:a25:6d82:: with SMTP id i124mr4733452ybc.78.1621489253482;
Wed, 19 May 2021 22:40:53 -0700 (PDT)
Path: i2pn2.org!i2pn.org!aioe.org!news.mixmin.net!proxad.net!feeder1-2.proxad.net!209.85.160.216.MISMATCH!news-out.google.com!nntp.google.com!postnews.google.com!google-groups.googlegroups.com!not-for-mail
Newsgroups: misc.consumers.frugal-living
Date: Wed, 19 May 2021 22:40:53 -0700 (PDT)
In-Reply-To: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
Injection-Info: google-groups.googlegroups.com; posting-host=32.132.12.210; posting-account=VREO7AoAAABGo_TnRXAj3kKbki4Qex7X
NNTP-Posting-Host: 32.132.12.210
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
User-Agent: G2/1.0
MIME-Version: 1.0
Message-ID: <3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com>
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
From: ggggg9...@gmail.com (gggg gggg)
Injection-Date: Thu, 20 May 2021 05:40:53 +0000
Content-Type: text/plain; charset="UTF-8"
 by: gggg gggg - Thu, 20 May 2021 05:40 UTC

On Tuesday, May 18, 2021 at 7:46:47 PM UTC-7, gggg gggg wrote:
> Is there one?
>
> What if a person has been living in their parents' home and their parents die and they inherit the home?
>
> When selling the home, what percentage of the selling price of the home can they expect to pay in inheritance taxes?
>
> 20%? 30%? 40% More?

Thanks to all for your quick and informative replies.

Whatever they are called (inheritances taxes? estates taxes?), I still want to ask:

- What if a person has been living in their parents' home and their parents die and they inherit the home?

When selling the home, what percentage of the selling price of the home should they expect to pay in taxes?

20%? 30%? 40% More?

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<s85q8u$6qc$1@dont-email.me>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1065&group=misc.consumers.frugal-living#1065

  copy link   Newsgroups: misc.consumers.frugal-living
Path: i2pn2.org!i2pn.org!aioe.org!eternal-september.org!reader02.eternal-september.org!.POSTED!not-for-mail
From: jrweiss9...@comcast.net (John Weiss)
Newsgroups: misc.consumers.frugal-living
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
Date: Thu, 20 May 2021 07:04:13 -0700
Organization: A noiseless patient Spider
Lines: 17
Message-ID: <s85q8u$6qc$1@dont-email.me>
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
<3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com>
Mime-Version: 1.0
Content-Type: text/plain; charset=utf-8; format=flowed
Content-Transfer-Encoding: 7bit
Injection-Date: Thu, 20 May 2021 14:04:15 -0000 (UTC)
Injection-Info: reader02.eternal-september.org; posting-host="3b5e3aee18182d575e05d37edcd87145";
logging-data="6988"; mail-complaints-to="abuse@eternal-september.org"; posting-account="U2FsdGVkX19pTbhqOpAUtpzKYyoLp79x"
User-Agent: Mozilla/5.0 (Windows NT 10.0; Win64; x64; rv:78.0) Gecko/20100101
Thunderbird/78.10.2
Cancel-Lock: sha1:jW4RqZDBidlqgePQzM493cwsDLY=
In-Reply-To: <3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com>
Content-Language: en-US
 by: John Weiss - Thu, 20 May 2021 14:04 UTC

On 05/19/21 22:40, gggg gggg wrote:

> Whatever they are called (inheritances taxes? estates taxes?), I still want to ask:
>
> - What if a person has been living in their parents' home and their parents die and they inherit the home?
>
> When selling the home, what percentage of the selling price of the home should they expect to pay in taxes?
>
> 20%? 30%? 40% More?

What state do you live in? Each state is different.

Why would you sell it if you're living in it?

In WA, it would be about 2% excise tax; there is no "inheritance tax".
The cost basis of the house is its value the day you inherit it, so
capital gains tax would be near 0 if you sell it immediately.

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<e1e305e1-9cf7-41a8-a6ad-cec6f72bab48n@googlegroups.com>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1066&group=misc.consumers.frugal-living#1066

  copy link   Newsgroups: misc.consumers.frugal-living
X-Received: by 2002:a37:8245:: with SMTP id e66mr5716145qkd.439.1621526516594;
Thu, 20 May 2021 09:01:56 -0700 (PDT)
X-Received: by 2002:a05:6902:4b3:: with SMTP id r19mr8411925ybs.290.1621526516326;
Thu, 20 May 2021 09:01:56 -0700 (PDT)
Path: i2pn2.org!i2pn.org!aioe.org!feeder1.feed.usenet.farm!feed.usenet.farm!newsfeed.xs4all.nl!newsfeed9.news.xs4all.nl!feeder1.cambriumusenet.nl!feed.tweak.nl!209.85.160.216.MISMATCH!news-out.google.com!nntp.google.com!postnews.google.com!google-groups.googlegroups.com!not-for-mail
Newsgroups: misc.consumers.frugal-living
Date: Thu, 20 May 2021 09:01:56 -0700 (PDT)
In-Reply-To: <s85q8u$6qc$1@dont-email.me>
Injection-Info: google-groups.googlegroups.com; posting-host=32.132.12.210; posting-account=VREO7AoAAABGo_TnRXAj3kKbki4Qex7X
NNTP-Posting-Host: 32.132.12.210
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
<3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com> <s85q8u$6qc$1@dont-email.me>
User-Agent: G2/1.0
MIME-Version: 1.0
Message-ID: <e1e305e1-9cf7-41a8-a6ad-cec6f72bab48n@googlegroups.com>
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
From: ggggg9...@gmail.com (gggg gggg)
Injection-Date: Thu, 20 May 2021 16:01:56 +0000
Content-Type: text/plain; charset="UTF-8"
 by: gggg gggg - Thu, 20 May 2021 16:01 UTC

On Thursday, May 20, 2021 at 7:04:18 AM UTC-7, John Weiss wrote:
> On 05/19/21 22:40, gggg gggg wrote:
>
> > Whatever they are called (inheritances taxes? estates taxes?), I still want to ask:
> >
> > - What if a person has been living in their parents' home and their parents die and they inherit the home?
> >
> > When selling the home, what percentage of the selling price of the home should they expect to pay in taxes?
> >
> > 20%? 30%? 40% More?
> What state do you live in? Each state is different.
>
> Why would you sell it if you're living in it?

What if you're moving?

Re: Rule-of-thumb guide as to how much to expect to pay for inheritance taxes

<2feadb28-a82c-43b3-9fee-b0275a4d5761n@googlegroups.com>

  copy mid

https://novabbs.com/interests/article-flat.php?id=1067&group=misc.consumers.frugal-living#1067

  copy link   Newsgroups: misc.consumers.frugal-living
X-Received: by 2002:a05:6214:288:: with SMTP id l8mr6308815qvv.21.1621526594337;
Thu, 20 May 2021 09:03:14 -0700 (PDT)
X-Received: by 2002:a25:55d5:: with SMTP id j204mr8376359ybb.157.1621526594083;
Thu, 20 May 2021 09:03:14 -0700 (PDT)
Path: i2pn2.org!i2pn.org!aioe.org!news.uzoreto.com!2.eu.feeder.erje.net!feeder.erje.net!proxad.net!feeder1-2.proxad.net!209.85.160.216.MISMATCH!news-out.google.com!nntp.google.com!postnews.google.com!google-groups.googlegroups.com!not-for-mail
Newsgroups: misc.consumers.frugal-living
Date: Thu, 20 May 2021 09:03:13 -0700 (PDT)
In-Reply-To: <s85q8u$6qc$1@dont-email.me>
Injection-Info: google-groups.googlegroups.com; posting-host=32.132.12.210; posting-account=VREO7AoAAABGo_TnRXAj3kKbki4Qex7X
NNTP-Posting-Host: 32.132.12.210
References: <0d5b5e5e-2932-4708-8064-50e7224d4b83n@googlegroups.com>
<3d73c5fb-d63e-45c9-9220-00c74461c18cn@googlegroups.com> <s85q8u$6qc$1@dont-email.me>
User-Agent: G2/1.0
MIME-Version: 1.0
Message-ID: <2feadb28-a82c-43b3-9fee-b0275a4d5761n@googlegroups.com>
Subject: Re: Rule-of-thumb guide as to how much to expect to pay for
inheritance taxes
From: ggggg9...@gmail.com (gggg gggg)
Injection-Date: Thu, 20 May 2021 16:03:14 +0000
Content-Type: text/plain; charset="UTF-8"
 by: gggg gggg - Thu, 20 May 2021 16:03 UTC

On Thursday, May 20, 2021 at 7:04:18 AM UTC-7, John Weiss wrote:
> On 05/19/21 22:40, gggg gggg wrote:
>
> > Whatever they are called (inheritances taxes? estates taxes?), I still want to ask:
> >
> > - What if a person has been living in their parents' home and their parents die and they inherit the home?
> >
> > When selling the home, what percentage of the selling price of the home should they expect to pay in taxes?
> >
> > 20%? 30%? 40% More?
> What state do you live in? Each state is different.
>
> Why would you sell it if you're living in it?

What if you're moving to a place where it's cheaper to live?

1
server_pubkey.txt

rocksolid light 0.9.81
clearnet tor