Asked 5/27/2010
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How much federal and state tax will I have to pay? My mother passed away a month ago in AZ and left her annuity to my 2 sisters and myself. We have been told that the pay-out value of the annuity is $123,000 or $41,000 each. How much can I expect to pay in taxes? I live in CO, one sister is in Arkansas, and the other is in S. Carolina. Does the state make a difference? |
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