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Question

as Trustee (trust owned by my adult sons) for which management is my responsibility; being paid for that management, can I include such enumeration under regular income?

Forum|Forum|11 months ago
April 15, 2025
1 reply
0 views

as Trustee (trust owned by my adult sons) for which management is my responsibility; being paid for that management, can I include such enumeration under regular income?

It depends on whether you are a professional administrator or not.

If you are considered a professional administrator then those fees are self-employed income. If not, this payment would be considered Other Taxable Income. You can enter this under Wages & Income >> Less Common Income >> Miscellaneous Income >> Other Taxable Income. Or search for "other taxable income" and click the 'jump to' link.

Please see this excellent Community answer by Champ maglib for more information.

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