Inheritance

Inheritance

Inheritance means:
real property or personal property that is received by heirs. A nontechnical meaning of inheritance includes property passed by will. Although the federal estate tax may have to be paid on the estate itself, the recipient is not subject to federal income tax on the inheritance.

See Inheritance Tax and Inheritance Tax.

U.S. and other Developed Countries International Tax Meaning

Real property or personal property that is received by heirs.

See Inheritance Tax and Inheritance Tax.


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