Kristin Abati and Renat Lumpau on Miscellaneous Itemized Deductions in Trusts & Estates

View "Deductibility of Trust and Estate Expenses"

Kristin Abati and Renat Lumpau wrote “Deductibility of Trust and Estate Expenses” in Trusts & Estates Magazine, where they discuss the Internal Revenue Service’s issuance of the final regulations under Internal Revenue Code Section 67 regarding the application of the 2 percent floor to miscellaneous itemized deductions for non-grantor trusts and estates, and how these new regulations may require professional fiduciaries to change their practices to comply with the new rules.