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Level 1
January 31, 2020
Question

I get paid a small salary from a trust fund set up for my son for taking care of him. What kind of deductions can I take?

  • January 31, 2020
  • 2 replies
  • 10 views
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2 replies

January 31, 2020

a salary would indicate you get a w-2.  for w-2 filers, employee business expenses are no longer deductible through 2025.        if you get a 1099-misc, ie compensation as an independent contractor,  give us an idea of expenses you incur in performing your duties.  

VolvoGirl
Level 15
January 31, 2020

Or do you get a K-1 from the Trust?