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#2
12-01-2003, 05:22 PM
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 Re: Joint Ownership weeje[at]webtv.net (weeje) wrote: - quote - > If property, bank accounts, CDs, and stock are all held in
You don't say which tax liability you're talking about. As> joint ownership, and one dies (not a spouse), and there is > no probate, what is the tax liability. far as income tax liability, I'd think that the fact it's joint tenancy won't change a thing. If you mean who or what property is responsible for payment of estate tax, it probably depends on state law, and/or what is in the guy's will, if he has one. If there's no will I'd guess that the property would be responsible for a proportionate share of the tax on the entire estate. If there's a will, it may well apportion taxes among the recipients of the probate property, meaning that if there is enough that is not joint tenancy, the jt property may not be liable for any tax. But it depends on several factors. Stu << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#1
12-01-2003, 04:44 PM
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| Re: Joint Ownership weeje[at]webtv.net (weeje) writes: - quote - > If property, bank accounts, CDs, and stock are all held in
There's no income tax on the inheritance. If the estate is> joint ownership, and one dies (not a spouse), and there is > no probate, what is the tax liability. large enough estate tax applies. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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11-30-2003, 01:21 AM
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| Re: Joint Ownership weeje[at]webtv.net (weeje) writes: - quote - > If property, bank accounts, CDs, and stock are all held in
There's no income tax on the inheritance. If the estate is> joint ownership, and one dies (not a spouse), and there is > no probate, what is the tax liability. large enough estate tax applies. Phil Marti Topeka, KS << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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#-1
11-25-2003, 03:40 AM
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| Joint Ownership If property, bank accounts, CDs, and stock are all held in joint ownership, and one dies (not a spouse), and there is no probate, what is the tax liability. ....... je << -------------------------------------------------> << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org > << -------------------------------------------------> |
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| joint, ownership |
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