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Where in Turbo Tax do you include income from serving as a non-professional one-time Trustee of an estate?

 
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MarilynG1
Expert Alumni

Where in Turbo Tax do you include income from serving as a non-professional one-time Trustee of an estate?

If you are a non-professional trustee and the estate did not include business activities, you can report the income under 'Other Miscellaneous Income'.

 

Click this link for instructions on entering Trustee Income.

 

For a nonprofessional executor or administrator (a person serving in such capacity in an isolated instance, such as a friend or relative of the decedent), self-employment tax only applies if a trade or business is included in the estate’s assets, the executor actively participates in the business, and the fees are related to operation of the business.

 

This link has more detailed info if this applies to you as a trustee of an estate that includes a trade or business.

 

 

 

 

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1 Reply
MarilynG1
Expert Alumni

Where in Turbo Tax do you include income from serving as a non-professional one-time Trustee of an estate?

If you are a non-professional trustee and the estate did not include business activities, you can report the income under 'Other Miscellaneous Income'.

 

Click this link for instructions on entering Trustee Income.

 

For a nonprofessional executor or administrator (a person serving in such capacity in an isolated instance, such as a friend or relative of the decedent), self-employment tax only applies if a trade or business is included in the estate’s assets, the executor actively participates in the business, and the fees are related to operation of the business.

 

This link has more detailed info if this applies to you as a trustee of an estate that includes a trade or business.

 

 

 

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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