Estate Tax-Federal Estate Tax

Kelly asked:


My fiance and I co-own our home, both of our names are on the title, but only his name is on the mortgage. Can I still declare the real estate taxes on my taxes? Can I declare half of the real estate taxes?

Grisel Schuneman

Kathleen S asked:


The death was March of 09 in the state of Michigan.

The estate value is over/around 5 million dollars (Farm land, homes, business etc).
One spouse and one child (adult) and NO will.

Everything was going to be left to the child, but does it make a difference who it’s left to. Would they both have to pay inheritance or estate tax? And how much?
They are hoping to sell the land and the business,put it in an account and split the interest, until the spouse passes and the child get the remaining. (This is a step parent situation with the living spouse having other children from and different marriage that are not entitled to anything).

What would be the best option and is there any other alternatives to benefit both parties?

Thank you

Lon Sciera

dcfish@sbcglobal.net asked:


When railroad rights of way are converted to rails-to-trails use, do they stop having to pay the real estate tax? And how does rail banking affect this tax policy?

Edward Daylong

John U asked:


“A vacation home is rented out for 10 days during the year and used personally by the owner for 20 days during the year. What percentage of real estate taxes should be

deducted on Schedule A?”

Wouldn’t it just be 100%?

Forest Adelizzi

Christian asked:


do you think the real estate tax credit will get extended

Chad Luinstra

copley asked:


In the processing of doing an estate and gift tax return where the decedent’s spouse is not a US citizen. There was no QDOT set up before the death and therefore the executor or the surviving spouse is going to have to set it up before the estate tax return is filed. However, I am wondering whether or not this should be a QTIP. Am I correct in thinking that in order for the non-citizen surviving spouse to make this irrevocable election it must be set up as a QTIP? The surviving non-citizen spouse is also the executor of the estate. Thanks.

Gaston Deibler

Moose asked:


I live with my mother she owns the house we live in. I pay rent and she dosen’t have to file a tax return. Is there any way I can take the tax deduction for the real estate taxes she pays. We live in New Jersey.

Fredric Janrhett

aavoucherjunkie asked:


Spouse died in 2006. Are attorney fees for setting up the trust documents, retitling assets to trusts, meeting with the PR, POA and Trustee tax deductible for the survivor?

Roslyn Knieper

LMG asked:


In 2007 my grandmother died. I filed taxes for my grandparents, having listed her as deceased and included all rental property. However, all property was in her name and moved into an estate with a separate 706 being filed. In 2008 my grandfather passed away. I know I need to file a final tax for him but should I include the property even though it was not in his name. Or should the property be filed separately? I use a tax program and it included everything.

Pablo Mezo

mehari d asked:


I received 1098 for my mortgage interest and in box 5 there is “Real estate tax paid”. is that Tax deductible too? or I can only deduct box 1 mortgage interst payment?

Maria