Massachusetts trust deductions

Forum|Forum|6 years ago
April 30, 2020
2 replies
23 views

Complex trust final year. Taxpayer wants to take tax prep fees from P/y as a deduction.

I don't see any language that specifically excludes this in my research but I also don't see any language or a place in Lacerte to deduct it either. Can anyone weigh in on this please?

Lacerte Tax

This topic has been closed for replies.

Best answer by BobKamman

Form 2 Instructions, Page 24:

Note: None of the following expenses are deductible on Form 2: estate administrative expenses, executor’s expenses, executor’s commissions, attorney fees, accountant fees, and tax preparer fees.

sjrcpa

Level 15

Tax prep fees are allowable- Attorney/accountant/return preparer fees Line 14.

The more I know the more I don’t know.

R

Ruth1Author

Level 5

Yes, thank you. I am familiar with the Federal deduction. I am asking about the state of MA.

sjrcpa

Level 15

Sorry. I didn't pick up on the MA part.

The more I know the more I don’t know.

BobKammanAnswer

Level 15

Form 2 Instructions, Page 24:

Note: None of the following expenses are deductible on Form 2: estate administrative expenses, executor’s expenses, executor’s commissions, attorney fees, accountant fees, and tax preparer fees.

R

Ruth1Author

Level 5

Excellent. Thanks. That did the trick .

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