[Code of Federal Regulations]
[Title 26, Volume 8]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR1.642(g)-1]

[Page 47]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 1--INCOME TAXES--Table of Contents
 
Sec. 1.642(g)-1  Disallowance of double deductions; in general.

    Amounts allowable under section 2053(a)(2) (relating to 
administration expenses) or under section 2054 (relating to losses 
during administration) as deductions in computing the taxable estate of 
a decedent are not allowed as deductions in computing the taxable income 
of the estate unless there is filed a statement, in duplicate, to the 
effect that the items have not been allowed as deductions from the gross 
estate of the decedent under section 2053 or 2054 and that all rights to 
have such items allowed at any time as deductions under section 2053 or 
2054 are waived. The statement should be filed with the return for the 
year for which the items are claimed as deductions or with the district 
director for the internal revenue district in which the return was 
filed, for association with the return. The statement may be filed at 
any time before the expiration of the statutory period of limitation 
applicable to the taxable year for which the deduction is sought. 
Allowance of a deduction in computing an estate's taxable income is not 
precluded by claiming a deduction in the estate tax return, so long as 
the estate tax deduction is not finally allowed and the statement is 
filed. However, after a statement is filed under section 642(g) with 
respect to a particular item or portion of an item, the item cannot 
thereafter be allowed as a deduction for estate tax purposes since the 
waiver operates as a relinquishment of the right to have the deduction 
allowed at any time under section 2053 or 2054.