Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Are tax preparation fees paid by a DRE treated as an S Corp deductible from the corp's royalty income (all income is oil royalties) at the corporate level?

Highlighted
Level 8

The income flows to a grantor trust and the tax preparation will not be deductible on Sch A.

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15

Yes I think I'd go for it on the Grantor's Sch E.


ex-AllStar

View solution in original post

0 Cheers
6 Replies 6
Highlighted
Level 15

Yes I think I'd go for it on the Grantor's Sch E.


ex-AllStar

View solution in original post

0 Cheers
Highlighted
Level 8
You are a treasure!
0 Cheers
Highlighted
Level 15
:blush::blush:

ex-AllStar
0 Cheers
Highlighted
Level 15
Pirates are known to cruise these waters so be careful that nobody steals your treasure.  :boat::boat:
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
0 Cheers
Highlighted
Level 8
@IRonMaN  I needed that laugh this very minute.  There really is some stress involved in April!!
0 Cheers
Highlighted
Level 15
:+1::+1:
ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
0 Cheers