North Metro Atlanta · Situation
Do I owe estate tax when I inherit a home in Alpharetta?
Georgia repealed its state estate tax years ago, so an Alpharetta heir owes nothing to the state simply for inheriting a home. Federal estate tax still exists, but it only applies to estates above a large exemption threshold that most families never come close to reaching, so most heirs owe no estate tax at all. What can create a bill later is capital gains tax if the home is sold for more than its stepped-up value at death. An estate attorney can confirm where a specific estate stands.
Still have a question?
Ask Joel directly. No form, no obligation, and a real answer even when the answer is that now is not the time to sell.