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I receive 1099 misc income from being a trustee. I am not self employed but I have expenses I would like to deduct? Where can I enter these expenses?

Forum|Forum|3 years ago
February 26, 2023
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I tried using Turbo Tax for business but it tried to make me pay self employment taxes which I do not need to.

TurboTax Deluxe Online

Best answer by Anonymous_

If you are not in the business of being a professional fiduciary, then you enter the fees you received as miscellaneous income and would, ordinarily, deduct the expenses as miscellaneous expenses on Schedule A.

Unfortunately, the deduction for miscellaneous expenses on Schedule A was eliminated by tax reform (the TCJA) so those expenses are now not deductible.

If you incurred expenses as a trustee, you should be able to be reimbursed by the trust.

A

Anonymous_Answer

If you are not in the business of being a professional fiduciary, then you enter the fees you received as miscellaneous income and would, ordinarily, deduct the expenses as miscellaneous expenses on Schedule A.

Unfortunately, the deduction for miscellaneous expenses on Schedule A was eliminated by tax reform (the TCJA) so those expenses are now not deductible.

If you incurred expenses as a trustee, you should be able to be reimbursed by the trust.