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The net excess deductions on termination will go out on the final K-1, so those fees will be reduced by $101.25. But they will be excess deductions on termination - Section 67(e) expenses, and thus will reduce the beneficiaries' AGI. So, yes, even though ...
Hello all, I am posting on behalf of a member. They are looking for examples of an RFP that was used to solicit proposals from audit firms for the annual audit. Preferably for a public company audit, but any examples would be helpful in their endeavor. ...
I have a 1041 trust with final year return in 2020. The Trust only has $101.25 in interest income. However, the trust paid out legal fees and trustee fees related to trust administration and per the trust agreement in 2020 of $25,000. A Trust return ...
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