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Business & farm
" where in TT Business will a trust record deductible legal expenses?"
You would enter general trust expenses in the Federal Taxes tab, Deductions section, Expenses, taxes, and fees (see screenshot) but the rental expenses would be entered in the Income section under Rental and royalty properties.
If the trust has a loss on Line 22 of your 1041, it may have an NOL since it has rental income. You will need to complete Form 1045 to figure the amount of the NOL.
See https://www.irs.gov/instructions/i1041#idm140630131281904
‎June 1, 2019
11:03 AM
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