A mothers primary investment was a brokerage account. Upon her death the brokerage account transferred to her daughter under a TOD beneficiary designation. Legal fees have been incurred for probate of remaining (small bank account, house etc). So the estate has virtually not income but has legal fees. Is there a way to deduct the legal fees?
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If the estate has no income but incurred legal fees, someone must have paid those fees on behalf of the estate.
The estate could deduct the fees and pass the deduction through to the beneficiary(ies) on its final return.
If the estate has no income but incurred legal fees, someone must have paid those fees on behalf of the estate.
The estate could deduct the fees and pass the deduction through to the beneficiary(ies) on its final return.
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