Successor's trustees fees when the grantor is still alive.

john-b — Mon, 03 Jun 2019 17:32:36 GMT

Grantor is original trustee; she became incapacitated and a successor trustee, administering the trust, is charging trustee's fees. The only trust asset is a rental property. Where are the trustee's fees reported?

" Where are the trustee's fees reported?" If you are goi...

Anonymous_ — Mon, 03 Jun 2019 17:32:37 GMT

" Where are the trustee's fees reported?"

If you are going to continue to treat this trust as a grantor trust (which you most likely should in the absence of language to the contrary in the trust instrument or state law), then the fees will be reported as a miscellaneous itemized deduction on Line 28 of Schedule A.

In TurboTax, accomplishing the foregoing is difficult without having access to Forms Mode (available in the desktop (CD/Download software) and doing an override.

Regardless, the fees should not be subject to the 2% limitation (which is simple to enter with TurboTax) and the solution for online products, albeit rather imperfect, appears in the screenshots below.

topic Successor's trustees fees when the grantor is still alive. in Get your taxes done using TurboTax

Successor's trustees fees when the grantor is still alive.

" Where are the trustee's fees reported?" If you are goi...