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Originally Posted by The Macho Man
I got no inheritance when my dad died, it all went to paying estate taxes.
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Do you mean back taxes? Because with estate taxes there is a certain amount that isn't taxed and estate taxes only apply above and beyond that.
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Year ExclusionAmount Max/Toptax rate
2001 $675,000 55%
2002 $1 million 50%
2003 $1 million 49%
2004 $1.5 million 48%
2005 $1.5 million 47%
2006 $2 million 46%
2007 $2 million 45%
2008 $2 million 45%
2009 $3.5 million 45%
2010 Repealed
2011 $5 million 35%
2012 $5.12 million 35%
2013 $5.25 million 40%
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So there's an initial chunk of money that isn't taxed and is your Mom still alive because if most assets went to her, there is no estate tax.