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?
You'll need to sign in or create an account to connect with an expert.
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.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
aE
Level 3
yaredcastro
New Member
dodongd-yahoo-co
New Member
sdn1
Level 1
KatieC1
Level 1
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.