How to use or fill out ET-85 with our platform
- Click ‘Get Form’ to open the ET-85 in the editor.
- Begin by entering the decedent's information, ensuring that the social security number is accurate. Attach a photocopy of the death certificate and mark an X in the appropriate box.
- If applicable, provide representative information for any authorized individuals assisting with the estate. If you have a power of attorney, attach it and mark an X.
- Fill in executor/applicant details. If no executor is appointed, enter your information in that section.
- Estimate the net estate by entering total asset values on lines 1 through 7. For line 8, include taxable gifts made within three years prior to death that are not part of the federal gross estate.
- Attach any necessary supplemental documents such as a will or additional forms required for lien releases.
- Review all entries for accuracy before submitting your form to ensure compliance with New York State regulations.
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What assets are exempt from estate tax?
Most relatively simple estates (cash, publicly traded securities, small amounts of other easily valued assets, and no special deductions or elections, or jointly held property) do not require the filing of an estate tax return.
How much inheritance is tax free in New York State per?
New York Estate Tax Exemption The New York estate tax threshold is $7.16 million in 2025 and $6.94 million in 2024. That number will keep going up annually with inflation. This means that if a persons estate is worth less than $7.16 million and they die in 2024, the estate owes nothing to the state of New York.
How much can you inherit in NYS without paying taxes?
While New York doesnt charge an inheritance tax, it does include an estate tax in its laws. The state has set a $7.16 million estate tax exemption for 2025 (up from $6.94 million in 2024), meaning if the decedents estate exceeds that amount, the estate is required to file a New York estate tax return.
How to avoid inheritance tax in NY?
Generally, for New York estate tax purposes, if the value of assets passing to beneficiaries other than a spouse or charity is below a certain threshold ($6.94 million in 2024), the assets are fully exempt from tax and no New York estate taxes will be due.
Is inheritance considered income in NY?
No. Inheritance itself is typically not considered income. This means you dont have to report the inheritance as taxable income on your annual tax return. Instead, its considered a windfall or a transfer of assets.
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What is the most you can inherit without paying taxes?
Many people worry about the estate tax affecting the inheritance they pass along to their children, but its not a reality most people will face. In 2025, the first $13,990,000 of an estate is exempt from federal estate taxes, up from $13,610,000 in 2024.
What is a release of estate tax lien in NY?
The release of lien is an authorization to transfer the real property, located in New York State, free and clear of the estate tax lien. The lien applies only to real property located in New York State. No fee applies to a release of lien.