JJStephens Posted October 13, 2015 Report Share 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 Link to comment Share on other sites More sharing options...
Bart Posted October 13, 2015 Report Share Posted October 13, 2015 Can he be reimbursed for trust expenses and let the trust deduct them? 2 Quote Link to comment Share on other sites More sharing options...
JJStephens Posted October 15, 2015 Author Report Share Posted October 15, 2015 That's what I ended up telling him to do. Quote Link to comment Share on other sites More sharing options...
Abby Normal Posted October 16, 2015 Report Share Posted October 16, 2015 My #1 rule is: always take the cash. Quote Link to comment Share on other sites More sharing options...
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