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Deductions & credits
Both probates are still open. The PR on the deed holders will (who passed first) reserved $60,000 for taxes, but did not pay the taxes on the 50% that was distributed to the estate of the wife who lived her life estate and passed in March 2023, she instead sent the wife's estate a 1041 indicating the estate would need to file on $100,000+ of capital gain. I do not know how this is done or why there is any capital gains since it appears to me that the wife's death date should have been used for the basis to determine capital gains and the real estate was sold 15 months after her death - no way and estate held for 40 years and sold that soon after the death date would incur that much capital gain in 15 months. The house sold for $716,000. The PR must have used the deed holders death date which was 4.5 years earlier. I am not sure she actually has a tax professional doing this there is no indication of expenses to the estate with regard to a tax professional. I don't know how to get a direction to help our lawyer do something to clarify this without charging $300+ an hour.