[jrw1990]

I keep reading that admin expenses can be deducted on the “estate tax return” or the “estate’s income tax return.” What’s the difference between these two? Is one of them the decedent’s final return?

FAR - 63 71 74 76.... thank god
AUD - 68 75
BEC - 78
REG - 78

[taxgeek83]

I think it's the difference between Form 1041 and Form 706 – first is the income tax return, and the second is the estate tax return (deals with transfers of assets to beneficiaries). If I understand correctly, because of the $5 million+ exclusion, you'll rarely file Form 706 unless you're working with high net worth clients. 1041 is going to be the most common.

Decedent's final return will still be filed on a 1040.

Someone correct me if I'm wrong.

[Author]

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