![]() For more information about administering trusts in Orange County, sign up for our free newsletter or connect with us on Facebook today. There are certain income tax deductions that are permissible to offset such income. Trustees must complete and file income tax returns for the trust for each tax year. Charitable contributions paid from current trust income, except in cases where the trust agreement authorizes it.Instead, these costs are apportioned between the trust and the beneficiary. ![]() (2) Bequest to fiduciary or attorney in lieu of fees. All reasonable expenses of administration of the decedents estate and of the assets includable in the decedents taxable estate are deductible. For example, trustees may not deduct the following: The following expenses may be deducted from the value of the property transferred: (1) Administration expenses. There are certain deductions, however, that trusts are not permitted to take. Income Tax Deductions That Are Not Permissible
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