What is the name of your state (only U.S. law)? Texas
I am the executor of my mother's estate. I understand that the executor is entitled to compensation; however, I do not want compensation, but I do want the expenses that I have incurred, such as paying for work on the house, ads, etc. I understand that compensation is taxed by the IRS. Is payment of expenses incurred as a result of being executor also taxed by the IRS?
I am the executor of my mother's estate. I understand that the executor is entitled to compensation; however, I do not want compensation, but I do want the expenses that I have incurred, such as paying for work on the house, ads, etc. I understand that compensation is taxed by the IRS. Is payment of expenses incurred as a result of being executor also taxed by the IRS?