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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121109  
Subject: Re: Tax prep deduction Date: 5/11/2010 2:42 PM
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If the estate had paid for the tax prep, half of it would have come out of my share of the disbursement anyway, so I'm paying it later rather than sooner.

That's the argument I was going to propose.

If the estate had paid the tax prep fees, it would have reduced the distributable net income on the estates fiduciary return. Then you would have had less taxable income passing through from the estate.

I'd be more aggressive than Ira and deduct it on your schedule A. Keep in mind that it's still subject to the 2% of AGI floor, so you might not get any benefit. But that's where I'd put it.

--Peter
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