Where to enter Invesment Management exps on form 1041

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  • AZ-Tax
    Senior Member
    • Feb 2008
    • 2604
    #1

    Where to enter Invesment Management exps on form 1041

    There is a place on Part II, under "Investment Expenses" column but that looks like it relates to Box 5 of form 1099-Div for which my clients Box 5 is blank. What about Part IV "Expense Allocation", column "Allocated to Taxable Income". Is that the correct place to enter investment management fees?
    Tags: None
    • Burke
      Senior Member
      • Jan 2008
      • 7068
      #2
      No. Enter on Page 1 of 1041, Line 15c (expenses subject to 2% exclusion). Jump to worksheet and allocate between taxable and tax-exempt income and then 2% exclusion calculations.
      It should then flow to Part IV.
      Last edited by Burke; 03-22-2016, 09:49 AM.

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