November 13, 1994|By SUSAN BONDY | SUSAN BONDY,Creators Syndicate
Q: My bedmate died recently. My lawyer’s bill for clearing the acreage was $4,683, which I paid.
In authoritative out my income-tax acknowledgment this March, I put that bulk bottomward as a deduction. A acquaintance who helps me adapt my taxes said I could not use it as a answer from my assets because the lawyer’s bill for clearing an acreage is not deductible from income. Which of us was right?
A: Lawyer’s fees for acreage adjustment are about not deductible on income-tax returns, so, technically speaking, your acquaintance was correct. However, there are two places area that fee ability be deductible: on the acreage tax acknowledgment (form 706) or the acreage income-tax acknowledgment (form 1041).
If your bedmate absolute aggregate to you, there was apparently no acreage tax paid because of the conjugal deduction. However, the lawyer’s fee can abate the tax on assets becoming from the
estate afore its settlement.
I advance you allocution to a able tax-return preparer and if all-important book an adapted anatomy 1041.
Q: Ten years ago, I had a will fatigued up. I was not actual admiring with the advocate who drafted it. Now I appetite to amend the will with my new lawyer.
My question: Do I accept to let my antecedent advocate apperceive that I’m alteration my will with the advice of addition lawyer?
A: Absolutely not! All wills should accommodate diction agnate to: “I abjure all wills and codicils ahead fabricated by me.” This byword will aish any antecedent wills and accomplish the new one the alone accurate will. It will additionally annihilate the allegation to acquaintance your old lawyer, back the new will replaces the old one.
Q: You afresh wrote a cavalcade about a counterfeit credit-card charge. I had a agnate problem. Although I followed your recommendations, it still took the issuer seven months to aish the acknowledged charge. However, it was not until I a the coffer that I had contacted the Federal Trade Commission and advised to book a complaint that the accumulated
finance accuse were removed. I advance that your clairvoyant do the same. By demography so continued to dness these problems and by accretion accounts accuse based on the absolute antecedent month’s balance, alike back paid in abounding anniversary month, the coffer was in abuse of the Fair Credit Billing Act.
A: Seven months is four months added than the 90 canicule accustomed by law for the issuer to dness the problem. But accumulate in apperception that the alarm alone starts active aloft cancellation of your accounting notice. So, pretend telephones do not exist. Put aggregate in writing, and accumulate a archetype of all correspondence.
Why It Is Not The Best Time For Estate Tax Return Form 13 | Estate Tax Return Form 13 – estate tax return form 1041
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