sjrcpa
Level 15
09-30-2022
12:09 PM
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Under Trust Accounting principles, The Uniform Income and Principal Act, state law, and/or the Trust Document yes you can allocate those expenses to some or all categories of income and principal.
Capital gains are generally corpus/principal. Is there a way to indicate, for example, Trustee fees are 50% income and 50% principal where you enter the expense, or options under Accounting Income? I don't use ProConnect.
The more I know the more I don’t know.