Two part question:
As Trustee charging trust fees on 1041 Simple Trust:
What line does one deduct Trustee Fees for irrevocable trust management?
Line 12 Fiduciary Fees?
Line 15a Other Deductions?
From income earned as Trustee on 1040 Personal Income:
What line does one report trustee income?
Line 21 Misc Income?
Line 12 for fiduciary fees on your 1041 and Line 8z (Schedule 1 - 1040 -other income) for the fiduciary reporting the fees on their 1040.
Thank you - I’ll populate and see how it appears.
Last year CPA I hired used line 15a with a statement for trustee fees on 1041 over 12, and I can’t figure out the difference.
There likely would be no difference.
However, Line 12 is specifically for fiduciary fees and expenses for administering an estate or trust.