Only Estate Can Deduct Funeral Expenses — Business Management Daily: Free Reports on Human Resources, Employment Law, Office Management, Office Communication, Office Technology and Small Business Tax Business Management Daily

Only Estate Can Deduct Funeral Expenses

Get PDF file

by on
in Small Business Tax

Q  My father passed away this year. Can we deduct his funeral expenses on his 2008 return?

A  Not on his personal income tax return. However, funeral expenses may be deducted on a decedent’s federal estate tax return. Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return, must be filed if a gross estate exceeds $2 million for a decedent dying in 2008. (This threshold increases to $3.5 million for 2009.) Otherwise, there is no tax benefit for funeral expenses.

Tip: Generally, a federal estate return must be filed within nine months of death, but the executor or other administrator may apply for a six-month extension. 

Related Articles...

Leave a Comment


Previous post:

Next post: