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- 1041 Estate Return - Mortgage Interest and Property Tax deductions
1041 Estate Return - Mortgage Interest and Property Tax deductions
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AJMorris
Level 2
03-09-2024
05:59 PM
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Father passes away and leaves home and other nominal assets to beneficiaries. Home is not occupied after death, rather put on the market and sold.
Are the property taxes and mortgage interest from date of death to date of sale deductible on the 1041?
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3 Comments 3
AJMorris
Level 2
03-09-2024
06:14 PM
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Interest and Prop Taxes are 90% of the total costs. I'll bite, what about utilities and insurance? The trust has a loss on the transaction and a loss overall, both Fed and State.
