Do Beneficiaries Pay Taxes on Inheritance in New York?
New York has no inheritance tax. But beneficiaries may still owe taxes on K-1 income, and the step-up in basis rules determine capital gains. Here's what you actually owe.
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All articles about New York Final Tax & Estate Tax Guide.
New York Estate Administration Timeline: What to Expect and When
Settling a New York estate typically takes 18 to 24 months across four distinct phases. Here's the realistic timeline and how estate tax deadlines interact with the Surrogate's Court process.
Are Executor Fees Taxable in New York — And What Happens If You Get Taxes Wrong?
New York executor commissions are taxable income, and executors can be personally liable for unpaid estate taxes. Here's what you need to know before you distribute a dollar.
Filing the Final Income Tax Return for a Deceased Person in New York
Executors must file a final Form 1040 and NY IT-201 for the deceased. Here's what the return covers, the joint filing option, and how to claim a refund.
Inheriting a Co-op Apartment in New York: What Executors Need to Know
Co-ops are personal property in New York, not real estate — but they still need an estate tax lien release and co-op board approval before transfer. Here's how it works.
The New York Estate Tax Cliff, Santa Clause Strategy, and Three-Year Gift Addback Rule
New York's estate tax cliff can make a $450,000 increase in wealth cost over $700,000 in taxes. The Santa Clause provision and credit shelter trust exist specifically to prevent this.
How to Release a New York Estate Tax Lien: ET-117, ET-30, and ET-85 Explained
New York's automatic estate tax lien blocks all real estate sales after death. Here's how to clear it using Forms ET-117, ET-30, and ET-85 — and how long it takes.
New York Estate Tax Return: Filing Form ET-706 and Meeting the Nine-Month Deadline
Form ET-706 is New York's estate tax return, due nine months after death. Here's what triggers the filing, available deductions, extensions, and the lien release process.
New York Family Exempt Property Under EPTL 5-3.1: What's Protected from Creditors
New York's EPTL 5-3.1 shields up to $92,500 in personal property for a surviving spouse or minor children — and this property never enters the estate, so creditors can't touch it.
New York Fiduciary Income Tax Return: Form IT-205 and Federal Form 1041
If a New York estate earns income during administration, the executor must file Form IT-205 and federal Form 1041. Here's when they're required, how the forms work, and the IT-205-A quirk.
New York Inheritance Tax: What the State Actually Levies
New York has no inheritance tax. Here's exactly what that means, how the estate tax works instead, and when out-of-state inheritance taxes might apply.
Power of Attorney Is Void After Death in New York: What Happens Next
When someone dies in New York, their Power of Attorney terminates instantly. Banks freeze accounts. The executor is the only one who can legally act — here's how to get that authority.
Selling an Inherited House in New York: Taxes, Liens, and the Step-Up in Basis
Selling inherited New York real estate involves estate tax liens, probate requirements, step-up in basis rules, and a new TOD deed creditor window. Here's how the taxes work.
Step-Up in Basis for Inherited Property in New York
New York conforms to the federal step-up in basis rule. Here's how it eliminates capital gains on inherited property, the joint ownership limitation, and what to document.
Surviving Spouse Estate Tax in New York: Marital Deduction, Portability, and the Step-Up Trap
New York has no portability for estate tax exemptions. If your spouse's estate passes directly to you, their $7.35M exclusion is gone forever. Here's what to know for married couples.
Tax Deadlines After Death in New York: The Complete Timeline
New York estates face at least four separate tax deadlines — final income tax, fiduciary income tax, state estate tax, and federal estate tax. Missing any one of them has real consequences.
Taxes After Death in New York: Four Separate Obligations Executors Must Handle
Death in New York triggers up to four distinct taxes with different forms, agencies, and deadlines. Here's how each works and what order to file them in.
Alternatives to Hiring a CPA for New York Estate Tax Returns
Five ways to handle New York estate tax returns without paying $1,500-$5,000 for a CPA — from self-service guides to tax software to free IRS resources.
Best Estate Tax Resource for Out-of-State Executors Settling a New York Estate
Managing New York estate taxes from another state means navigating ET-706, IT-205, and Surrogate's Court without being able to walk into the clerk's office.
Best Resource for New York Estates Near the $7.35 Million Tax Cliff
If your New York estate is between $7.35M and $7.72M, the wrong move costs $700,000+. Here's what resources actually help you navigate the cliff.
How to File New York Estate Taxes Without an Attorney
You can file New York's four estate-related tax returns yourself — here's the exact filing sequence, the forms you need, and when to call a professional instead.
New York Estate Tax Guide vs. Hiring an Estate Attorney: Which Do You Actually Need?
Compare using a self-service New York estate tax guide against hiring a $400/hour estate attorney — who needs which, and when both make sense together.