Announcement

Collapse
No announcement yet.

Legal fees for decease's estate...

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Legal fees for decease's estate...

    Can the representative appointed to handle the decease’s estate, deduct legal exps the representative paid for pertaining to the estate? If so would it be on Sch A misc “Certain attorney and accounting fees” subject to 2% deduction which would help the representative in this case with their taxes.

    #2
    Why isn't the estate paying for the expenses?

    Comment


      #3
      Legal expenses (attorney's fees) go on the Estate Income Tax return Form 1041, line 14 and are fully deductible. If estate has closed, excess deductions would pass out to the beneficiary(s) on their K-1 and go on Sche A.

      Comment

      Working...
      X