Does anyone know how to calculate the inheritance tax on real estate?
It is quite possible that you could owe no inheritance tax on the property, but it is a very complicated process in determining the answer. The first thing to remember is that either your grandmother (if she gave you the property while she was alive) or her estate (if you received the property after she passed away) is the person that will owe the tax, not you. The actual value of the property will also determine whether or not any inheritance tax is owed. With a little more information, you can be given some better direction. One option would be to contact a local estate planning attorney or Certified Financial Planner. Hopefully this helped.
