I am a trustee for a family trust. I incurred travel expenses for which I was not reimbursed - to maintain the trust to support my mother. can I get a tax benefit?
025901
1 Best answer
Anonymous_
Level 15
Jun 4, 2019 5:54:41 PM
"can I get a tax benefit?"
No. Any expenses you incurred would not be deductible on your personal income tax return. The trust could, more likely than not, reimburse you for your expenses and, in turn, deduct the amount paid as trustee fees.
2 Replies
Anonymous_
Level 15
Jun 4, 2019 5:54:41 PM
"can I get a tax benefit?"
No. Any expenses you incurred would not be deductible on your personal income tax return. The trust could, more likely than not, reimburse you for your expenses and, in turn, deduct the amount paid as trustee fees.
ChrisArnold
New Member
Jul 23, 2019 4:38:40 PM
What if you operate a LLC whom is providing these services “in kind” to the family? Could mileage and expenses be considered an expense to the LLC?