@HRM wrote:
Can investment management fees be deducted on a Trust Return? How/where do I enter them?
Generally, such fees and costs are not deductible. Per Section 67(e), in order to be deductible by the trust, the fees must be those that would not be incurred if the property were not held in a trust (i.e., if a hypothetical individual would incur the same fees, then the fees are not deductible by the trust).
Expenses that are paid or incurred in the administration of an estate or trust and that would not have been incurred if the property were not held in such an estate or trust are deductible under Sec. 67(e)(1). Expenses deductible under Sec. 67(e) include costs paid for tax preparation fees for most returns, appraisal fees, and certain fiduciary expenses, as outlined in Regs. Sec. 1.67-4. Costs that are not deductible under this section are those that customarily would be incurred by a hypothetical individual holding the same property
