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My sister died this past year, and I was the beneficiary of…

My sister died this...

My sister died this past year, and I was the beneficiary of her IRA of $10,000. I paid $3,400 for her funeral expenses and attorney fees for her estate. Can I deduct those expenses from the amount I received from her IRA? My husband and I are on a fixed income.

Accountant's Assistant: What state are you in? It matters because laws vary by location.

We live in Nevada, but my sister lived in Iowa.

Accountant's Assistant: What steps have you taken so far?

I've included in the IRA amount in line 15a of the 1040 form. Can I include the funeral expenses in the "taxable amount?"

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3/25/2018
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,011
Experience: 35 years tax experience, including four years at a Big 4 firm.
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I'm PDtax. I'll assist.You can't deduct expenses of the estate. You can claim the expenses for reimbursement from the estate.Final expenses are typically paid before specific requests. IRA monies often escape estate oversight by paying a named beneficiary, which skips the estate.I don't know if there are any assets in the estate, or other debts, and should before I can tell you all your options.PDtax
PDtax
PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,011
Experience: 35 years tax experience, including four years at a Big 4 firm.
Verified
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PDtax, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 5,011
5,011 Satisfied Customers
Experience: 35 years tax experience, including four years at a Big 4 firm.

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