Hi. My father died 8 months ago. I am executor (and was his POA; he had dementia for years). We both lived in this house for 42 years, and I am staying until I die. All his accounts had beneficiaries so the estate only has about $200 liquid cash. Five months ago, I paid the property taxes, over $7000 with my own money. I also used my own money for all the funeral arrangements and will pay the lawyer myself as the estate has no money, and my brother doesn't want to help (his net worth is twice mine). When probate ends in spring 2020, the deed will be rewritten with me 50% owner, 40% in trust to my brother with me as trustee until his death, and 10% in trust to my niece with me as trustee until 2030 (when I have to buy her out). The trusts were an attempty by my parents to lock his evil money-grubbing wife out of the equation. Anyway, the deed is currently listed in my mother (died in 2013) and father's name (died in 2019). I will be filing taxes for my father but the property taxes happened after his death so I can't deduct them from his. The estate will make less than $600 so I will not be filing taxes for the estate. Can I deduct the property taxes on my taxes? Or, do I just lose a few thousand that I used to deduct from dad's taxes?
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The estate or the heirs or beneficiaries named in the will own the house and which one owns it depends on state law......you should be able to write off the taxes paid as beneficial owner or executor and beneficiary preserving estate property but ask your lawyer.....also ask your lawyer if the probate court judge can order the other future owners to contribute their share of the property taxes and expenses.
i think all the expenses you paid are estate administration expenses and not deductible by you but represent a claim against the estate. if the property is the only asset, see a lawyer. because laws are different.
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