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IRS provides final regulations on deductions for estates and non-grantor trusts
IRS provides final regulations on deductions for estates and non-grantor trusts, including excess deductions on termination
https://www.irs.gov/newsroom/irs-prov
https://accountinginstruction.info/
The Internal Revenue Service today issued final regulations PDF that provide guidance for decedents' estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts are not miscellaneous itemized deductions. The Tax Cuts and Jobs Acts (TCJA) prohibits individuals, estates, and non-grantor trusts from claiming miscellaneous itemized deductions for any taxable year beginning after December 31, 2017, and before January 1, 2026.
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By Robert (Bob) SteeleIRS provides final regulations on deductions for estates and non-grantor trusts, including excess deductions on termination
https://www.irs.gov/newsroom/irs-prov
https://accountinginstruction.info/
The Internal Revenue Service today issued final regulations PDF that provide guidance for decedents' estates and non-grantor trusts clarifying that certain deductions of such estates and non-grantor trusts are not miscellaneous itemized deductions. The Tax Cuts and Jobs Acts (TCJA) prohibits individuals, estates, and non-grantor trusts from claiming miscellaneous itemized deductions for any taxable year beginning after December 31, 2017, and before January 1, 2026.