03 June 2020

(Only six states impose inheritance taxes

The Yankees (102 95) and the Astros (102 94) have clinched their divisions. If the Twins win the Central, they would be the No. 3 seed and play either New York or Houston (whichever has the worst record). Answer: Technically, you weren’t given a home. You inherited it, and you’re correct that inheritances are typically not taxable. (Only six states impose inheritance taxes, and your state, California, is not one of them.) When you inherited the home, the property received what’s known as a step up in tax basis, so that the appreciation that occurred during your sister’s lifetime is not taxed.

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