That depends. If you are in the trade or business of being an executor then you'll report the income on Schedule C. If you are not in the trade or business but are acting as the executor of a friend or relative's estate, you'll report the fees as other income (Form 1040, line 21). For more information, please see IRS Pub 559, Survivors, Executors, and Administrators.
To enter your executor fees if you are not in the trade or business of being an executor:
- Continue your return in TurboTax Online. (If your return isn't open, you'll need to sign in and click Take me to my return.)
- Click the drop-down arrow next to Tax Tools (lower left of your screen).
- Select Tools.
- In the pop-up window, select Topic Search.
- In the I'm looking for: box, type other.
- In the results box, scroll down and highlight other reportable income, then click GO.
- Answer No on the Other Wages Received screen. (Click the first screenshot below to enlarge it for reference.)
- Under Let's work on any miscellaneous income, scroll down and click Start (or Revisit) in the Other reportable income row. (Click the second screenshot below.)
- Enter a description and amount under Other taxable income, then click Continue. For the description, use "Executor fees". (Click the third screenshot below.) Note: If you land on the Other Miscellaneous Income Summary, click +Add Another Income item to continue. (Click the fourth screenshot below.)
Note: If using the
TurboTax CD/Download software, you'll use the Find
function and the "Jump to" link (instead of "Tax Tools") to search for the topic.
If you are in the trade or business of being an executor and need to file a Schedule C, please see the FAQ below.
Where do I enter Schedule C? https://ttlc.intuit.com/replies/3302122
