My mother passed in 2018 and my brother and I inherited her 401k. Mom had life insurance, 'just enough to bury me'. Well, that was over 30 years ago so, no it wasn't enough. I received 1/2 her IRA (brother got the other half). My brother fronted the remaining expense of the funeral and when I received my half of the 401K, I gave him money from that to pay for the funeral. Is that deductible?
You'll need to sign in or create an account to connect with an expert.
Sorry, no. Funeral expenses are not deductible on a tax return. The funds given to your brother would be considered a gift and gifts given to an individual are not reported on a tax return.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
TECTopca
Level 2
maglib
Level 11
Astral27
Level 1
BWet7870
Level 1
d-coulombe
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.