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rentacar3
New Member

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?

 
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2 Replies
Anonymous
Not applicable

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?

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.  

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?

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

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