Ferrari Mailing List: Re: Off Topic - NPC No Porsche Content, NFC,

Larry:

According to page 14 of IRS Publication #529, the answer is "no." You cannot
deduct funeral expenses as an itemized deduction on your Form 1040, nor by
an estate on Form 1041. Funeral expenses may only be deducted on an estate
tax return using Form 706 for estates valued at over $2MM.

Check IRS Publications 559 and 529 for reference:

http://www.irs.gov/pub/irs-pdf/p559.pdf

http://www.irs.gov/pub/irs-pdf/p529.pdf 

My condolences on your loss.

SJ

-----Original Message-----
From: LarryT [mailto:l02turner [at] comcast.net] 
Sent: Thursday, April 05, 2007 6:48 AM
To: Steve Jenkins
Cc: The FerrariList
Subject: [Ferrari] Off Topic - NPC No Porsche Content, NFC, - US Tax
Question

Howdy,
Tried to find this answer in the IRS database -
My mom lived with us for the last 10 years of her life (at one point we had 
my M-I-L here also - for about 10 m).  We provided care with the help of 
Hospice during the last 9 months.

She had no estate - basically a zero balance checking acct & no other 
assets - I was her executor.  I paid for her funeral out of my account.

Question is, can I deduct her funeral expenses?  I never claimed her as a 
dependent and when she passed away in Jan. 06 I paid around $5k for the 
funeral.

I guess I didn't have to pay for it, but *someone* had to.  I didn't mind, 
I'd do it again - I guess it wasn't manadatory but I'd like to use the 
deduction if appropriate.

Thx -

Larry T (67 MGB, 74 911, 78 240D, 91 300D)
www.youroil.net for Oil Analysis and Weber Parts
Test Results http://members.rennlist.com/oil
PORSCHE POSTERS!  youroil.net
Weber Carb Info http://members.rennlist.com/webercarbs
Porsche Road Test http://members.rennlist.com/roadtest/
. 

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Re: Off Topic - NPC No Porsche Content, NFC, - US Tax Question	<– Date –> <– Thread –>
From: Steve Jenkins (stevestevejenkins.com)
Date: Thu, 5 Apr 2007 07:29:08 -0700 (PDT)