• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Are trustee and executor fees paid to me taxable?

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

George23

Junior Member
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?
 


abezon

Senior Member
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.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top