4 ms·
The first $5M is exempt.
by kjackson2012 13y ago
The first $5M is exempt.
- saalweachter 13y agoYou are thinking of the inheritance tax. If I recall the gift tax and the inheritance tax interact, but you only pay the inheritance tax once, when you are dead.
- namdnay 13y agoMinor quibble: Inheritance tax is paid by the beneficiaries, not the deceased.