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]

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

[sjrcpa · Accepted solution]

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

[poolcleaner]

You are a treasure!

[sjrcpa]

:blush:

[IRonMaN]

Pirates are known to cruise these waters so be careful that nobody steals your treasure.  :boat:

[poolcleaner]

@IRonMaN  I needed that laugh this very minute.  There really is some stress involved in April!!

[IRonMaN]

:+1: