Can the executor of a deceased parent's estate deduct the cost of?

Question

Can I deduct the cost of keeping my deceased mother's possessions in a storage garage during the past year? I was the executor.

Also, can I deduct any of the expenses paid to move her things to my home 650 miles away? Just the mileage deduction alone would be worth it.

Thanks!

Answer 1

As a matter of fact, yes you can deduct these things, you may also be payed as the executor; your time is worth a wage. Any feul mileage, postage, storage, legal fees ect.
My wifes parents were both killed in a car wreck, and we were driving their moving van for them when it happened; and to make matters worse, everyone else left it to us to do everything, but they were sure there with hands out when we
settled the estate. Our Attorney advised us of all that we could charge against the estate (deduct). Also since my wife
was the administratrix (Executor), she also was payed a wage for all that she had to do, and the storage of all items
was deducted as well, and expenses enstrued for all practical purposes was deducte as well.

Answer 2

The storage expenses should be deductible on Form 1041 only as long as the estate was still open with the probate court. After estate closing they become your property and are not deductible. The moving expenses are not deductible on the 1041 - they are more your responsibility than the estate.

Answer 3

Yes and no. Executors are entitled to reasonable expenses to maintain real and personal property. An issue might arise whether it would have been more reasonable to sell the possessions. Another issue is whether the possessions were left to you, in that case your expenses moving or storing them until you could receive them would not be deductible. If they were left to you and others, and you could not outright sell the items, then both those costs would be deductible.

Answer 4

The storage expenses sound like estate expenses to me. The estate should be paying them, not you, until you become the owner of the goods. Once you are the owner, they are your expenses, and not deductible at all.

The same thing would apply to the moving, except that I am not sure that the estate would be responsible for delivering your inheritance to your door.

Answer 5

You should be OK provided that the costs were reasonable (and that it was reasonable to incur them). Executors should keep records of their expenditure in order to be able to report to the beneficiaries of the estate, and reasonable expenses are allowed.

Answer 6

That is up to the administrator.

Email her, explain the expense and ask him how to handle.

If the estate has been settled, you could have a problem at this late date.