If my husband manages a property trust and we as a household pay for the upkeep expenses on the property- how exactly do we deduct the expenses associated with administering over the trust? The 1040 puts a cap on deductions (only allowing % of our AGI as joint filers, whereas the 1041 has no cap on those deductions)
. So how do we capture/realize these expenses/deductions on our joint 1040?
