Solved: Are condo fees, moving & storage expenses, and utility payments deductible on a 1041 form? If so, where are these entered?
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Are condo fees, moving & storage expenses, and utility payments deductible on a 1041 form? If so, where are these entered?

I became a cotrustee/beneficiary of my mother’s trust following her passing in 2015. I’m completing the trust’s tax returns for 2016. Are any of the following expenses deductible on the 1041 Form?
- Condominium association fees paid prior to the sale of my mother’s home
- Payments for utilities prior to sale of the condo
- Property taxes
- Moving expenses incurred after the condo’s sale.
- Storage expenses incurred after the condo’s sale
-Funeral expenses

If so, where should they be reported on the 1041 form?


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Are condo fees, moving & storage expenses, and utility payments deductible on a 1041 form? If so, where are these entered?

"If so, where are these entered?"

You can deduct property taxes in Federal Taxes>>Deductions>>Taxes.

Funeral expenses are not deductible on Form 1041; they are deductible only on Form 706.

See https://www.irs.gov/instructions/i1041#idm140376225780656

With respect to the other expenses, they would only be deductible, if at all, as administration expenses incurred for the management, conservation, or maintenance of estate/trust property and would be subject to the 2% floor. Any such deductions would be entered under Federal Taxes>>Deductions>>Other itemized deductions. 

Please note that to the extent there is any personal use of the property, the other items would not be deductible and that, regardless, expenses that would not be deductible on a personal income tax return do not necessarily become deductible merely because the expenses are incurred by an estate or trust.

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Level 15

Are condo fees, moving & storage expenses, and utility payments deductible on a 1041 form? If so, where are these entered?

"If so, where are these entered?"

You can deduct property taxes in Federal Taxes>>Deductions>>Taxes.

Funeral expenses are not deductible on Form 1041; they are deductible only on Form 706.

See https://www.irs.gov/instructions/i1041#idm140376225780656

With respect to the other expenses, they would only be deductible, if at all, as administration expenses incurred for the management, conservation, or maintenance of estate/trust property and would be subject to the 2% floor. Any such deductions would be entered under Federal Taxes>>Deductions>>Other itemized deductions. 

Please note that to the extent there is any personal use of the property, the other items would not be deductible and that, regardless, expenses that would not be deductible on a personal income tax return do not necessarily become deductible merely because the expenses are incurred by an estate or trust.

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