N.J. Admin. Code § 18:26-7.13

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:26-7.13 - Storage expense

(a) No deduction is allowed for expenses incurred by an executor or administrator for the storage or preservation of tangible personal property, except where the nature of the property or the value thereof is such that delivery to the legatee thereof is not possible within a reasonable time subsequent to a decedent's death.

(b) No deduction is allowed for expenses incurred for the preservation, maintenance, or upkeep of real property of which a decedent dies seized, either individually, jointly, or as a tenant in common.

Adopted by 50 N.J.R. 1624(a), effective 7/16/2018