Monday, November 14, 2011

I'm inhereiting my dad's pension. I live in OH. My dad lived/died in VA. Is this taxable?

My brother and I as the only heirs to my fathers estate are inheriting it per Virginia law. His estate is made up of mainly his pension which is in the tune of $150,000 which will be split between my brother and I. I am a legal resident of OH. The accountant handling the estate is saying that the pension portion of the estate must be taxed which is a shock to me and due to the way the account has thus far been handled, I am questioning this. Is the pension portion taxable? Would you happen to know how much?

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