Estate Tax-Federal Estate Tax

harden31806 asked:


to be divided by 3 persons. Do I have to file an estate tax return on this? She was killed by a car and the 6000 was actually placed in her estate by a wrongful death suit.

Allen Gionta

MJMCOOL1 asked:


This is a weird situations
1. Seller is paying all of my closing cost
2. The Seller owes 5 months of Taxes
3. Im not Escrowing my Taxes
4. Apparently the Title Company will not give me the Tax money that is for the 5 months of Taxes they will only give me the money that I brought to the table which is the 1000.00 Earnest money and my application fee for the loan.

Does any one have any thoughts on this scenario or has anyone run into this before?

Guy Drones

moonage asked:


also will a standard appraisal be acceptable to irs

Princess Valen

visor asked:


In a living trust, is the equity subject to federal tax upon the sale of a primary residence?

Riva Jinright

pj asked:


My estate is worth about 3 million $. What are the consequences of my NOT having a living trust? I have 2 children, one of whom is financially irresponsible. What would happen if I die without a living trust? What are the estate tax laws as of 2007. I live in California. How long would probate take? Thanks……………………pj

Junior Foxworthy

aLLIE? asked:


The rate on assessment in Marion County is 35%. The tax is rate is 81.31 mills. What is the real estate tax on a piece of property that has a market value of $38,500?

A. $2000
B. 41187.55
C. $1095.65
D. $1299.88

Jamey Caissie

Yahoo Asker asked:


The estate tax is:

a. applied as a percentage of the total gross estate.
b. based on the dollar value of liabilities at death.
c. phased out for individuals with an estate of $3 million or
more.
d. equal to a percentage of the taxable estate less the estate tax
credit.

Suanne Morgenroth

btwitkin asked:


Our mother passed away in April. We need to get a tax id number for the estate. We were wondernig how long it takes to normally get one. Thanks

Tyson Mondor

John F asked:


I have been told that community property with right of survivorship is better for the survivor. I need your help. I don’t know it’s right or not. Thanks.

Vincenzo Delorenzo

badbadboy6979 asked:


Here is the amount taxed based on the value of the estate.

Under $1 million 0.0%
$1 – $2 million 1.6%
$2 – $3.5 million 7.5%
$3.5 – $5 million 12.0%
$5 – $10 million 19.3%
$10 – $20 million 22.9%
More than $20 million 22.2%

From what I understand, the tax only really affects the rich/super rich, and has no impact on 98% of the population. What do you think, even the super rich can get a best answer for this one if your answer merits.

I’d be very interested to hear Paris Hilton answer why she deserves all that money because she was carried for 9 months in a gold lined uterus.

I’ll leave this one to a vote, since I’m obviously biased on my opinion already, lets hear what you hav to say!

Collette Sylva