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Trust and Estate Investment Management Fees
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| Estates and trusts are subject
to the 2% AGI limitation on miscellaneous itemized deductions.
Miscellaneous itemized deductions for an estate or trust are generally the
same kinds of expenses as those incurred by individuals (final Form 1040
tax preparation fees, investment expenses, etc.). However, under IRC
§67(e), expenses connected with the administration of an estate or trust
which would not have been incurred if the property were not held in such
trust or estate are allowed as a deduction in arriving at adjusted gross
income and are not subject to the 2% AGI limitation. |
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