03-24-2008, 11:16 AM
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 Re: 1041 deductible expense On Fri, 21 Mar 2008 09:01:27 EDT, George <gbeccles[at]gmail.com> wrote: - quote - > I am executor for my mother's estate (total value ~$400K). The year > before she died, she gave one of my brothers some property (value > ~$50K). She did not file a gift tax return (form 709). On our probate > attorney's advice, I filed this. To do so, I had to get the property > appraised. > Is the cost of that appraisal deductible on (line 15b?) of the 1041? To > be clear, the property was never "held by the estate". The IRS says it is deductible, on line 15b. George -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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#-1
03-21-2008, 12:01 PM
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| 1041 deductible expense I am executor for my mother's estate (total value ~$400K). The year before she died, she gave one of my brothers some property (value ~$50K). She did not file a gift tax return (form 709). On our probate attorney's advice, I filed this. To do so, I had to get the property appraised. Is the cost of that appraisal deductible on (line 15b?) of the 1041? To be clear, the property was never "held by the estate". Thanks, George -- << ------------------------------------------------------- > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2007) - All rights reserved. > << ------------------------------------------------------- > |
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| 1041, deductible, expense |
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