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  1. #1
    George23 is offline Junior Member
    Join Date
    Sep 2007
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    15

    Are trustee and executor fees paid to me taxable?

    I was paid a trustee and executor fee on my dad's estate. Am I required to pay tax on either of these? And are these considered personal or community property?


    What is the name of your state? CaliforniaWhat is the name of your state?
  2. #2
    abezon is offline Senior Member
    Join Date
    Aug 2002
    Location
    Washington
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    3,484
    The fees are taxable income not subject to self-employemnt taxes. Report them on line 21 of your 1040 as 'executor fees.' I believe they are community property unless you have a CP agreement in place, but ask the estate attorney to confirm. That issue will be specific to CA law.
    This post does not constitute legal advice, nor does it create an attorney-client relationship. Postings are based only on the information provided and you should consult an attorney in your area before relying on information contained in this post.

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