Administration Expenses Incurred by an Estate

question 16

Multiple Choice

Administration expenses incurred by an estate

• A)are deductions in respect of a decedent and may be deducted on both the estate tax return (Form 706)and the estate income tax return (Form 1041).
• B)an executor must elect where to deduct administration expenses (Form 706 or Form 1041).
• C)such expenses are only deductible on Form 706.
• D)such expenses are only deductible on Form 1041.

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Definitions:

My Egypt

A painting by Charles Demuth in 1927, part of the Precisionist movement, symbolically representing industrial America through the image of grain elevators.

Grain Elevator

A storage facility used for handling bulk materials, specifically grains, utilizing a mechanism to elevate the grains from ground level.

Charles Demuth

An American painter associated with the Precisionist movement, known for his detailed, geometric works depicting industrial and urban scenes.

Kinetic Sculptures

Artworks with parts that move, either by air, motor, or human interaction, creating visual or sound experiences.