Deduction for investment advisory fees on a fiduciary income tax return

Neil E. Hendershot of the Harrisburg, Pennsylvania law firm of Goldberg Katzman, P.C. (author of the PA Elder, Estate & Fiduciary Law Blog) has posted a comprehensive discussion of proposed federal treasury regulations were just published for comment on the deductibility of a fiduciary’s administrative costs.  These regulations were proposed before oral arguments in the appeal to the U.S. Supreme Court of William L. Rudkin Testamentary Trust v. Commissioner, 467 F.3d 149, (2d Cir. 2006), on the issue of the proper application of the 2% floor imposed by I.R.C. § 67(a).

See Neil E. Hendershot, “Rudkin” Regulations Proposed During Appeal, PA Elder, Estate & Fiduciary Law Blog, Aug. 2, 2007.