Are trustee fees subject to self-employment tax?
March 20, 2006
Date: Sat, 18 Feb 2006
Dear Mr. Gray:
Do you have a citation that says fees received by a non-professional fiduciary aren't subject to self-employment tax?
Thanks for your help,
Date: Mon, 06 Mar 2006
Revenue Ruling 58-5. If the trustee is actively involved in operating a business for the trust, the fees can be self-employment income. In most cases, they aren't.
For answers to new questions, subscribe to our newsletter, Michael Gray, CPA's Tax & Business Insight by filling out the form below.
Home Newsletter Archive Introducing Michael Gray, CPA Articles Tax FAQ Need Help? Other Links