| Trusts cannot fully deduct amounts paid for investment advice.
The IRS has announced that "Trusts cannot fully deduct amounts paid for investment advice." In the Tax Court case, the Court ruled that "the write-off is subject to the 2% rule", with only amounts exceeding the 2% of a trust’s adjusted gross income are allowed.
Trust expenses that are not subject to the 2% rule are those that wouldn’t normally be incurred by individuals, such as trustees’ fees. | 
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