(3) If deductible by the beneficiary, when is a cash basis beneficiary entitled to a deduction for interest expense? (4) What is the income tax effect to beneficiaries who receive dis tributions from the estate where the testator has designated that such distribution is to pass free of inheritance taxes? Decision: (1) An estate may not deduct interest on inheritance taxes, as such obligation is ultimately that of the beneficiary. (2) Interest on inheritance taxes is deductible by the beneficiary subject to the tax. Accrual basis taxpayers may deduct when all events have transpired to fix the liability.
(Franz) Joseph Haydn, composer of the Classical Era-Born - 1732 in Rohrau, Austria Died-May, 1809 in Vienna, Austria Major works include - 15 surviving Operas, 104 Symphonies, Violin and keyboard concertos, Chamber music and songs, 12 Masses.
Abraham Lincoln was born in a log cabin in 1809 near Hodgenville, Kentucky. His parents were Thomas and Nancy Lincoln. When he was 8, Abraham Lincoln and his family moved by wagon across the Ohio River into Indiana to live in a log cabin that Abraham and his father had built.