Deductions & credits


@HRM wrote:

Thanks.. My thinking was that if the trust produced say $20K in investment income and the firm making the investments charges $4K to manage the investments, then the taxable profit would be $16K.


You might want to ask the firm managing the investments if they would charge the same $4k if the investments were held in an individual account rather than in a trust - or if the firm charges some sort of premium for managing an account that is in a trust (if so, that premium would be deductible).