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

Trust return expenses

DL
Level 1

I am confused about whether we can fully or partially deduct tax prep fees and investment management fees in a trust.  Can anyone clarify please.

 

Labels (1)
0 Cheers
1 Solution

Accepted Solutions
Rosy
Level 1

You can't deduct them on page 1, as far as I can tell, but my question is can you

deduct them on the 8960, so as to minimize the net investment tax in a trust.

View solution in original post

0 Cheers
2 Replies 2
Rosy
Level 1

You can't deduct them on page 1, as far as I can tell, but my question is can you

deduct them on the 8960, so as to minimize the net investment tax in a trust.

View solution in original post

0 Cheers
DL
Level 1

Thank you.  Notice 2018-61 says otherwise and refers us to and 1.67-4 provides more guidance and some examples where they might be.  I was looking for some more clarification. 

0 Cheers