Section 11.24 Expenses, Losses, Debts, and Taxes

• Library: Estate Administration 2014 Supp

1. (§11.24) Expenses, Losses, Debts, and Taxes

Estates of nonresident aliens are entitled to deduct a portion of the expenses, losses, indebtedness, and taxes delineated in I.R.C. §§ 2053 and 2054. I.R.C. § 2106(a)(1). Under the EGTRRA, a pro rata portion of state death taxes paid is allowed as a deduction, effective for estates of decedents dying after December 31, 2004. I.R.C. § 2106(a)(4). Deductions provided for in I.R.C. § 2053 are those for:

· funeral and administration expenses;

· claims against an estate; and

· mortgages...