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Level 5
June 28, 2023
Solved

IRC SECTION 212 INCOME AND EXPENSES.Where do I enter these amounts.Tax payer has interest in a foreign trust.Thanks in advance, Christopher

  • June 28, 2023
  • 1 reply
  • 17 views
Both expenses and income are less than $1000.
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Best answer by sjrcpa

The income is entered as interest, dividends, other portfolio income as appropriate.

The expenses are not deductible.

1 reply

sjrcpa
sjrcpaAnswer
Level 15
June 28, 2023

The income is entered as interest, dividends, other portfolio income as appropriate.

The expenses are not deductible.

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