Items deductible from value of property interests transferred by
resident decedent by will, intestate succession, or under trust
Sec. 13. (a) For purposes of this section, the term "property
subject to the inheritance tax" means property transferred by a
decedent under a taxable transfer.
(b) The following items, and no others, may be deducted from the
value of property interests transferred by a resident decedent under
his will, under the laws of intestate succession, or under a trust:
(1) the decedent's debts which are lawful claims against his
resident estate;
(2) taxes on the decedent's real property which is located in this
state and subject to the inheritance tax, if the real property taxes
were a lien at the time of the decedent's death;
(3) taxes on decedent's personal property which is located in
this state and subject to the inheritance tax, if the personal
property taxes are a personal obligation of the decedent or a lien
against the property and if the taxes were unpaid at the time of
the decedent's death;
(4) taxes imposed on the decedent's income to date of death, if
the taxes were unpaid at the time of his death;
(5) inheritance, estate, or transfer taxes, other than federal estate
taxes, imposed by other jurisdictions with respect to intangible
personal property which is subject to the inheritance tax;
(6) mortgages or special assessments which, at the time of
decedent's death, were a lien on any of decedent's real property
which is located in this state and subject to the inheritance tax;
(7) decedent's funeral expenses;
(8) amounts, not to exceed one thousand dollars ($1,000), paid
for a memorial for the decedent;
(9) expenses incurred in administering property subject to the
inheritance tax, including but not limited to reasonable attorney
fees, personal representative fees, and trustee fees;
(10) the amount of any allowance provided to the resident
decedent's children by IC 29-1-4-1; and
(11) The value of any property actually received by a resident
decedent's surviving spouse in satisfaction of the allowance
provided by IC 29-1-4-1, regardless of whether or not a claim
for that allowance has been filed under IC 29-1-14.
(c) The amounts which are deductible under subsection (b)(6) of
this section are deductible only from the value of the real property
encumbered by the mortgage or special assessment.
As added by Acts 1976, P.L.18, SEC.1. Amended by Acts 1976,
P.L.20, SEC.1; Acts 1979, P.L.75, SEC.7; Acts 1980, P.L.57, SEC.6;
Acts 1981, P.L.89, SEC.2.
Last modified: May 28, 2006