Grantor is original trustee; she became incapacitated and a successor trustee, administering the trust, is charging trustee's fees. The only trust asset is a rental property. Where are the trustee's fees reported?
" Where are the trustee's fees reported?"
If you are going to continue to treat this trust as a grantor trust (which you most likely should in the absence of language to the contrary in the trust instrument or state law), then the fees will be reported as a miscellaneous itemized deduction on Line 28 of Schedule A.
In TurboTax, accomplishing the foregoing is difficult without having access to Forms Mode (available in the desktop (CD/Download software) and doing an override.
Regardless, the fees should not be subject to the 2% limitation (which is simple to enter with TurboTax) and the solution for online products, albeit rather imperfect, appears in the screenshots below.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
