Deductability of trust expenses

[jzwhaler]

What is the name of your state? New York

I am the trustee of a complex trust who's income is mostly from tax-free interest. Are the
preparer's fees fully deductible-- as an administration expense-- on the 1041 (line 14),
or is the deductiion limited to the proportion of taxable vs. tax-free income?

 

[Dandy Don]

This is a question for the tax law message board or by calling the IRS or consulting with a local CPA or tax accountant who has experience with estates.

DANDY DON IN OKLAHOMA ([email protected])