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?

poolcleaner
Level 9

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

0 Cheers

This discussion has been locked. No new contributions can be made. You may start a new discussion here

1 Solution

Accepted Solutions
sjrcpa
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 Comments 6
sjrcpa
Level 15

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


Ex-AllStar
0 Cheers
poolcleaner
Level 9
You are a treasure!
0 Cheers
sjrcpa
Level 15
:blush::blush:

Ex-AllStar
0 Cheers
IRonMaN
Level 15
Pirates are known to cruise these waters so be careful that nobody steals your treasure.  :boat::boat:

Slava Ukraini!
0 Cheers
poolcleaner
Level 9
@IRonMaN  I needed that laugh this very minute.  There really is some stress involved in April!!
0 Cheers
IRonMaN
Level 15
:+1::+1:

Slava Ukraini!
0 Cheers