There are two kinds of taxes owed by an estate: One on the transfer of assets from the decedent to their beneficiaries and heirs (the estate tax), and another on income generated by assets of the decedent’s estate (the income tax). Both the individual’s personal income tax return and that of the deceased estate are treated as separate tax returns. Also, tax on the deceased estate tax return is only payable if it earns income after the owner’s death. It is advisory to seek help from registered tax return agent.
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Know About Deceased Estate Tax Return
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