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I have a question about tax law.

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This is for federal income tax

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Submitted: 3 months ago.Category: Legal
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Customer reply replied 3 months ago
Can I deduct homeonwers insurance on a decedent return form 1041
Answered in 7 minutes by:
4/3/2018
Lawyer: Ray, Lawyer replied 3 months ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,171
Experience: 30 years in civil, probate, real estate, elder law
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Hi and welcome to JA. Ray here to help you today.Please bear with me a few moments while I review your question and respond.

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Lawyer: Ray, Lawyer replied 3 months ago

Yes you can deduct it on the decedent's final tax return.You wold need to itemize to claim it for them.

To deduct expenses of owning a home, you must file Form 1040, U.S. Individual Income Tax Return, and itemize your deductions on Schedule A (Form 1040). If you itemize, you can't take the standard deduction.Jan 24, 2018

Publication 530 (2017), Tax Information for Homeowners ... - IRS

https://www.irs.gov/publications/p530

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Customer reply replied 3 months ago
this is for his 1041 Decedent Estate return.
Lawyer: Ray, Lawyer replied 3 months ago

"Where do I report deductions for property insurance and repairs, maintenance,etc.for estates on Form 1041?"

If the property is being used as rental property, then the expenses (along with any income) would be reported in the Rentals and Royalties section under Income in the Federal Taxes tab (see first screenshot).

If the property is investment property (e.g., vacant and not being used by a beneficiary and has no other personal use), then the expenses would be reported in the Expenses, taxes, and fees section under Deductions in the Federal Taxes tab (see second screenshot). The expenses would essentially be administration expenses incurred for the management, conservation, or maintenance of estate property (subject to the 2% floor).

If there is any personal use of the property, then the expenses incurred are not deductible.

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