A bill becomes law if signed by the President or if not signed within 10 days and Congress is in session. If Congress adjourns before the 10 days and the President has not signed the bill then it does not become law (Pocket Veto.)
Amounts paid. or reasonably expected to be paid during estate administration are deductible on Form 706; or, executor can elect to. claim some administration expenses on Form 1041 when paid. On Form 1041, expense is subject to 2% adjusted gross.
You Might Be Able to Take an Investment Tax Deduction for Interest Expense Tied to Your Investing Activities. The Internal Revenue Service allows a deduction for investment interest expense, which includes margin interest expense you pay for money borrowed to purchase investments such as stocks and bonds. There are very, very strict rules that must be followed if you want to avail yourself of this particular investment tax deduction. For one, you can only deduct investment interest expense up to the limit of your ânet investment interestâ.