![]() It's important to remember that funeral expenses are tax-deductible items specific to the estate (gross value of the properties) of a deceased person. Simply put, individuals cannot claim tax deductions on funeral expenses paid out of their own pocket, and only the deceased's estate can benefit from the allowable tax deductions on funeral expenses. Instead of an individual, only funeral expenses paid out of the estate (the funeral costs are paid by the estate of the decedent, and not just any single individual) are instead tax-deductible against the decedent’s gross estate to determine the net taxable estate and corresponding estate taxes, subject to a threshold. Who can and cannot deduct funeral expenses?Īn individual person who shoulders full or part of a deceased person’s funeral expenses cannot claim funeral or burial expenses on their individual itemized deductions as part of Schedule A of Form 1040, according to the IRS. This is why it is not surprising that it is often asked whether individuals can include funeral expenses paid in their itemized deductions to reduce their annual tax burden. Without burial insurance, loved ones left behind are burdened with paying for these costs. The skyrocketing prices of funeral expenses have pushed many people to consider the cost of burial insurance to cover funeral and cremation expenses in the event of an untimely death. ![]()
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