2007-01-30 05:49:46 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Yes, if the estate owes taxes, a deduction can be taken for donations. If you are dealing with an estate with tax liabilities, you need a tax attorney or accountant.
2007-01-30 05:57:11 · answer #1 · answered by J.R. 6 · 0⤊ 0⤋
Charitable deduction taken by whom? The estate? Possibly. The heirs? No.
2007-01-30 14:10:57 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Depends on when the person died.
The deductibility of non cash to charity has been really tightened up in 2007. It is almost impossible to get deductibility on clothing anymore. You will need receipts for furniture, and if it is worth over $1000, an appraisal would also be helpful in case of audit.
2007-01-30 14:00:08 · answer #3 · answered by Anonymous · 1⤊ 0⤋
Those laws have changed in the last few years ~ to be on the safe side I would check with a Probate Lawyer or the Lawyer who handles things like that. The IRS has really started to crack down on "Charitable Donations"
2007-01-30 14:00:03 · answer #4 · answered by nuroticmom 2 · 0⤊ 0⤋