Spouse died in 2006. Are attorney fees for setting up the trust documents, retitling assets to trusts, meeting with the PR, POA and Trustee tax deductible for the survivor?
2007-03-17 17:22:56 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ Other - Taxes
The estate gets the deduction.
2007-03-18 02:00:31 · answer #1 · answered by skip 6 · 1⤊ 0⤋
Yes. Absolutely.
Estate planning expenses are tax deductible as Legal Fees Re: Preservation of Income as a Miscellaneous deduction, subject to the 2% limitation of AGI.
2007-03-20 16:13:52 · answer #2 · answered by bold4bs 4 · 0⤊ 1⤋
No, but the ARE deductible by the estate if the estate is large enough to have a tax liability.
2007-03-18 10:17:19 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Nope. Perhaps the estate can deduct them, however.
2007-03-18 00:26:30 · answer #4 · answered by Anonymous · 0⤊ 0⤋