JJStephens Posted October 13, 2015 Report Posted October 13, 2015 This is one of those 'I ought to know this but don't' questions.Client received a K-1 from his deceased mother's Living Trust. He incurred some expenses related to maintaining her property and administering the trust (mileage, supplies, repairs). Can he deduct those? My guess is they'd be a Schedule A, Other Misc Deductions item. He also had to pay an assessment to the trust to cover some expenses.What say those of ye much wiser and more experienced than me? Quote
Bart Posted October 13, 2015 Report Posted October 13, 2015 Can he be reimbursed for trust expenses and let the trust deduct them? 2 Quote
JJStephens Posted October 15, 2015 Author Report Posted October 15, 2015 That's what I ended up telling him to do. Quote
Abby Normal Posted October 16, 2015 Report Posted October 16, 2015 My #1 rule is: always take the cash. Quote
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