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General. Funeral expenses. Executors commissions. Attorney fees. Interest expense. Miscellaneous expenses.
Do all estates have to file Form 706? No, not all estates need to file Form 706. Only estates with gross assets and prior taxable gifts exceeding the annually determined exemption amount are required to file this form. For 2023, this threshold is set at $12.92 million, or $13.61 million in 2024.
Amending Form 706 If you find that you must change something on a return that has already been filed, you should: File another Form 706; Enter Supplemental Information across the top of page 1 of the form; and. Attach a copy of pages 1, 2, 3, and 4 of the original Form 706 that has already been filed.
Fees paid to the fiduciary for administering the estate; Attorney, accountant, and return preparer fees; Expenses incurred for the management, conservation, or maintenance of property; Expenses in connection with the determination, collection, or refund of the estates tax liability.
If you itemize, you can deduct these expenses: Bad debts. Canceled debt on home. Capital losses. Donations to charity. Gains from sale of your home. Gambling losses. Home mortgage interest. Income, sales, real estate and personal property taxes.
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If you incurred expenses managing the estate, you can deduct those on the estates tax return. These might include costs like attorney or accountant fees or the cost to use a service. The estate can also deduct any executor fees it paid you for the services you provided as personal representative of the estate.
Downloading from IRS Forms Publications page. Picking up copies at an IRS Taxpayer Assistance Center. Going to the IRS Small Business and Self-Employed Tax Center page. Requesting copies by phone 800-TAX-FORM (800-829-3676).
These deductible expenses include accounting fees to prepare your final income tax return, income tax returns for your estate or trust, and your estate tax return, if necessary. They also include attorney fees, executor fees, trustee fees, and probate costs necessary to administer your property and affairs.

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