Legal Question in Wills and Trusts in New Jersey

When are real estate commissions deductible for NJ Inheritance Tax? We used the selling price of the house and deducted the real estate commissions.

Asked on 8/21/10, 3:05 pm

2 Answers from Attorneys

Steven Tarta Law Office of Steven W. Tarta

When the property was sold as directed by the decedents will

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Answered on 8/26/10, 3:43 pm

Jonathan Chester Lindabury, McCormick, Estabrook & Cooper, P.C.

While the IRS generally allows the r/e commissions as deductions, for NJ estate tax purposes, it's more difficult.

In general, unless the Will directs that the property is to be sold, the r/e commissions are NOT deductable.

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Answered on 8/27/10, 6:01 am

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