You'll need to sign in or create an account to connect with an expert.
" do we have to claim this amount, where would it be claimed"
Yes, the amount your wife receives as trustee is taxable income so it must be reported. However, it is miscellaneous income that is not subject to self-employment tax. In TurboTax, enter the amount as per the screenshots below.
" do we have to claim this amount, where would it be claimed"
Yes, the amount your wife receives as trustee is taxable income so it must be reported. However, it is miscellaneous income that is not subject to self-employment tax. In TurboTax, enter the amount as per the screenshots below.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
ddranalli
Returning Member
870a1fa85a83
New Member
aerdengi
New Member
user186547
New Member
tyler_barbee-yah
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.