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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 16580
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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ARE THE TRUST AGENCY FEES SUBJECT TO THE 2% FLOOR ON FORM 1041

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ARE THE TRUST AGENCY FEES SUBJECT TO THE 2% FLOOR ON FORM 1041 WHEN THE TRUST AGENCY HANDLES THE INVESTMENTS.

MyVirtualCPA :

Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.

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MyVirtualCPA :

Trust investment advisory fees are subject to the 2% floor on the 1041 under section 67(a)


 

MyVirtualCPA :

So yes, these would be subject to the 2% floor.

MyVirtualCPA :

You can read more about this, here: http://www.mcguirewoods.com/news-resources/publications/taxation/trusts.pdf

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