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Can executor deduct on line 15, form 1041, expenses of sale of decedent’s rental real estate or do they have to list the expenses on scheduleE to reduce that income?

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tmarmbrust
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Items include appraisal, auctioneer commission, closing agent fee, attorney fee, abstract continuation, transfer tax, survey cost, recording fees, and real estate taxes paid and prorated to date of sale.  

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Neither. Expenses of sale  are used to reduce the gain, or increase the loss, reported on Form 4797. Real estate taxes are a Schedule E deduction.


The more I know, the more I don't know.

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All-Star

Neither. Expenses of sale  are used to reduce the gain, or increase the loss, reported on Form 4797. Real estate taxes are a Schedule E deduction.


The more I know, the more I don't know.

View solution in original post

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