artp Posted February 19, 2010 Report Share Posted February 19, 2010 1. Are attorney fees paid by an estate fully deductible on the 1041 line 14? Estate consisted mostly of farm property in which the decedent had a partial ownership. Farm was actively operated on crop share basis, but decedent was not active in the business. The other assets consisted of small bank account and some savings. Ownership of the assets were transferred to children from the estate. From reading past posts there seems to be a disagreement on deductibility of legal fees. Deductibility allowed for preservation of income producing property vs transfer of title/ownership of personal assets. Is this the proper framework for determining deductibility? In this case fully deductible? 2. Second issue is deductibility of appraisal fees, title work and transfer on death fees. Deductible, subject to 2% of income? Fully deductible? Non-deductible? This issue is always troublesome. I would appreciated response from those with experience on these issues. Quote Link to comment Share on other sites More sharing options...
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