Tax Benefit Rule Does Not Apply to Transfers at Death

If a sole proprietor is able to deduct an expense he incurred in the year he died for property that was not used up in the year he died, must his estate then report the amount as income in the following year for the amount of taxes saved by the deduction in the prior year? […] The post Tax Benefit Rule Does Not Apply to Transfers at Death appeared first on Houston Tax Attorney.
Source: Houston Tax Attorney

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