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Get your taxes done using TurboTax
An income tax deduction is allowed to the recipient for the estate tax paid on the income. The deduction for estate tax paid can only be claimed for the same tax year in which the income in respect of a decedent must be included in the recipient's income. Per IRS Pub 559, page 12. (As provided by our awesome Tax Expert @HelenC12).
The estate tax deduction is entered in TurboTax Online using the following steps:
- Other Deductions & Credits > Other Deductible Expenses > Select Start or Revisit
- On the screen 'Did you pay any generation-skipping taxes in 2021?' select No
- On the screen 'Did you have any of these less common expenses?' select No
- On the screen 'Did you have any of these other expenses?' select Yes
- Enter the Estate tax deduction not reported on an estate K-1 (see image below)
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March 14, 2022
9:09 AM