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Rando
USA Fan
When IPs were Visible
Member since Apr 2015
12990 posts

Question about deductions for succession expenses
I'm having to roughly pay $5,000 on two separate successions.

Is any of this tax deductible?


hungryone
LSU Fan
river parishes
Member since Sep 2010
7703 posts

re: Question about deductions for succession expenses
Are these expenses not being paid out of the estates?


Rando
USA Fan
When IPs were Visible
Member since Apr 2015
12990 posts

re: Question about deductions for succession expenses
quote:

Are these expenses not being paid out of the estates?




Land rich, cash poor. So unfortunately no.


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rmc
LSU Fan
Zachary, LA
Member since Sep 2004
24318 posts

re: Question about deductions for succession expenses
To my knowledge only against potential estate taxes which I doubt is the case if you are getting two successions for 5k. Practice in the area but am not a cpa or tax advisor.


geauxpurple
LSU Fan
New Orleans
Member since Jul 2014
3277 posts

re: Question about deductions for succession expenses
Louisiana inheritance taxes are a thing of the past. You should be reimbursed from assets of the estate, even if you have to wait for assets to be liquidated.


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