topic Re: Trustee Fees in Get your taxes done using TurboTax

Trustee Fees

SD641 — Mon, 14 Apr 2025 04:19:08 GMT

How do I input Trustee fees ((Revocable Trust) in Turbo Tax Income section if it was not included on the K1 statement?

Re: Trustee Fees

Hi Palms — Mon, 14 Apr 2025 15:38:01 GMT

To whon did you pay a trustee's fee and what was its nature?

Revocable trusts typically do not issue K-1s, they issue grantor information statements.

Virtually every trust, regardless, deducts trustees' fees at the trust level and do not pass those fees on to the beneficiaries to deduct on their individual income tax returns.

There is an error here somewhere.

Re: Trustee Fees

SD641 — Mon, 14 Apr 2025 18:44:55 GMT

It was an Irrevocable trust. The Trustee fees were not listed on the K1 so I entered as Other Miscellaneous Income - Other Reportable Income.

Re: Trustee Fees

SD641 — Mon, 14 Apr 2025 18:46:10 GMT

It was an Irrevocable Trust. The Trustee fees were not listed on the K1 so I entered as Other Miscellaneous Income - Other Reportable Income.

Re: Trustee Fees

Hi Palms — Mon, 14 Apr 2025 19:02:58 GMT

That is correct. If you received a fee as a fiduciary (trustee), you would report that fee as Other miscellaneous income.