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Although there is no inheritance tax in Florida, you would still need to transfer the home onto your name along with all the liabilities the home comes with. Everything that was registered to the previous owner will need to be transferred to your name.
Even though Florida doesnt have an estate tax, you might still owe the federal estate tax, which kicks in at $12.06 million for 2022 and $12.92 million in 2023. What this means is that estates worth less than $12.92 million wont pay any federal estate taxes at all.
Florida does not have an inheritance tax or estate tax, so the inheritance tax rate is zero. A beneficiary of a deceased person in Florida does not owe any state taxes on inherited property.
Generally, the capital gains pass through to the heirs. The estate reports the gain on the estate income tax return, but then takes a deduction for the amount of the gain distributed to the heirs since this usually happens during the same tax year.
The good news is Florida does not have a separate state inheritance tax. Even further, heirs and beneficiaries in Florida do not pay income tax on any monies received from an estate because inherited property does not count as income for Federal income tax purposes (and Florida does not have a separate income tax).
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Intestate Succession: Spouses Children Inheritance SituationWho Inherits Your Property If spouse and children from relationship with spouse, and spouse has children with another person 1/2 of estate to spouse 1/2 of estate to only your children If children, but no spouse Entire estate to children3 more rows Dec 21, 2023
Taxes on Selling an Inherited Property in Florida However, you have to pay taxes while selling an inherited property in Florida. Transfer Tax: Transfer tax is a one-time fee the inheritor pays to the local government at the time of transferring the ownership. Florida imposes 0.7% of the propertys sale price.
Form DR-312 is admissible as evidence of nonliability for Florida estate tax and will remove the Departments estate tax lien. The Florida Department of Revenue will not issue Nontaxable Certificates for estates for which the DR-312 has been duly filed and no federal Form 706 or 706-NA is due.

florida dr 312