Under IRC Section 67 (e) & (g), money manager fees are not deductible by a complex trust.  The money manager fees are deductible in computing "Accounting Income" for the trust.   As far as I can tell, Lacerte will not allow non-deductible treatment for taxable income and deductible for "Accounting Income" or otherwise treat the expense differently for the two separate income calculations. 

Is there a fix that I am missing?

                                                                  Muchacho