2007-08-27 06:46:00 · 6 answers · asked by Drew W 2 in Business & Finance ➔ Taxes ➔ United States
No deduction can be taken for funeral expenses or medical and dental expenses on the estate's income tax return, Form 1041.
(it is also not deducatable on the final 1040 return)
Sorry.
2007-08-27 06:55:41 · answer #1 · answered by Michael K 5 · 0⤊ 0⤋
I believe a loooong time ago, it may have been some deduction for funeral expenses, but that was before I started preparing tax returns in 1969. yet, every year someone would say that someone told them it could be. I don't know how they got that information. However, if the person that died can be claimed on someone else's return as a dependent, funeral expenses can be use to prove the dependency. Hope this helps.
2007-08-27 20:43:00 · answer #2 · answered by IRENE THE BOOKIE 3 · 0⤊ 0⤋
Possibly by the estate, but very few estates owe taxes anyway, only the ones over $2 million. Funeral expenses are NOT deductible on a personal return.
2007-08-27 14:42:45 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No deduction on the 1040 or the 1041 but IF a Form 706 is filed for estate taxes then it is a deductible expense there. The vast majority of people will not need to file a 706 since they will have non-taxable estates so it really only applies to large estates.
2007-08-27 14:26:06 · answer #4 · answered by MICon 2 · 0⤊ 0⤋
Till now funeral services have not been taxed in the service tax net.
2007-08-27 14:30:54 · answer #5 · answered by BHAVYA M 2 · 0⤊ 0⤋
On the 1040?.....No.
2007-08-27 13:48:53 · answer #6 · answered by Wayne Z 7 · 0⤊ 0⤋