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Business & farm
@Matilda wrote:
......TT asks to separate between Fees allocated to taxable income and fees allocated to tax exempt income. What does this mean?
You only need to be concerned with allocation if the estate received tax-exempt income.
See https://www.irs.gov/instructions/i1041#en_US_2021_publink100077445
‎February 10, 2022
6:28 PM