Answered: Trust return expenses

DL · ‎03-14-2019

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.

Rosy · ‎03-14-2019

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

Rosy · ‎03-14-2019

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.

DL · ‎03-14-2019

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.

Trust return expenses

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