We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. We remain open during the shutdown period, so please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Skip to Content
Klenk Law

Deductions from PA Inheritance Tax in Bucks County, PA

Posted on Wed Nov 19, 2014, on Probate and Estate Administration

From our “Ask a Question” Mailbag: Deductions from PA Inheritance Tax in Bucks County, PA

Most Recently Updated July 8, 2018.

“As executor of my father’s Bucks County estate, may I deduct the closing costs of selling his home against the Pennsylvania Inheritance Tax?”

Deductions from PA Inheritance Tax in Bucks County

Deductions from PA Inheritance Tax in Bucks County

The Pennsylvania Inheritance Tax is levied on the net estate value, meaning the fair market value of the estate’s assets less expenses and debts.

The reasonable costs of selling the house is an expense of the estate, and will be deductible against the sale price when calculating the Pennsylvania Inheritance Tax due. The same would hold for any liens or mortgages on the home.

More Probate Questions?

PA Inheritance Tax deductions is only part of the overall probate process. By all means, if you wish to learn more, please read my more detailed article, The Probate Process All You Need to Know.

In Conclusion: Deductions from PA Inheritance Tax in Bucks County, PA

I hope that this article was helpful in explaining PA Inheritance Tax deductions. Further, I included links to even more detailed information on my website. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Probate Lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced Probate Attorneys.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do

Tags:

Bucks County, Income Tax Deductions, Inheritance Tax, Pennsylvania, Probate Attorney, Probate Lawyer

What Our clients are saying

Klenk Law Logo
Stars

Peter and his staff handled all of our needs in a very professional and timely matter.

Klenk Law Logo
Stars

Peter has done our family's trust and estate work since our children were born. He is not only extremely knowledgeable and honest, but makes sure that our arrangements remain current with the changing legal landscape. I would give him my highest recommendation as a professional in his field.

Klenk Law Logo
Stars

Peter provided outstanding advice and preparation of a will and trusts.

Klenk Law Logo
Stars

Peter and the whole team at Klenk Law are top notch. They are thorough, efficient and understanding of client needs. He was able to tailor our estate planning needs just how we envisioned.

Klenk Law Logo
Stars

Professional, cheerful, thorough and fast. Peter responded to my request for a consultation right away, and within just a few days my last will and living will were done. Rates are standard.

Let us put our expertise to work for you.

Free consultation within 24 hours.