Skip to main content
August 14, 2021
Solved

1041 Estate Income tax return

  • August 14, 2021
  • 1 reply
  • 0 views

If the deceased final tax return resulted in a liability paid by the estate, can that be deducted on the estate income tax return(and the loss passed on to a beneficiary via k-1)?  If so, where does the deduction go?

Best answer by Anonymous_
No text available

1 reply

Employee
August 14, 2021
No text available
August 14, 2021

Thanks-so any cost incurred prior to death has to be either included in the final year return(if deductible) or in the estate tax return, if that applies.  The estate income tax only applies to costs or income incurred by the estate, like administration or legal costs, and income prior to distribution.  Is that right?

Employee
August 14, 2021
No text available