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Deductions & credits
No, individual taxpayers cannot deduct funeral or cremation expenses on their tax return. While the IRS allows deductions for medical expenses, funeral costs are not included. Qualified medical expenses must be used to prevent or treat a medical illness or condition.
Deducting funeral or cremation expenses as part of an estate: If you are settling an estate, you may be able to claim a deduction for funeral expenses if you used the estate's funds to pay for the costs. Many estates do not actually use this deduction, since most estates are less than the amount that is taxable.. However, executors of estates that are subject to tax can use various deductions, including funeral expenses, to reduce the estate's overall taxable income.
For additional information, click on Tax Deductions for Funeral Expenses https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/Tax-Deductions-for-Funeral...
May 31, 2019
9:38 PM