The down-turn in the economy in recent years combined with increased use of the trust have combined to draw attention to the handling of net operating losses,1 capital losses2 and deductions in excess of gross income3 in estates and in trusts succeeding to an estate.4 Typically, a substantial component of the excess deductions is deductions for trustee’s fees and attorney’s fees paid late in estate settlement.
Harl, Neil E.
"Handling Losses and Excess Deductions in an Estate (or in a Trust Succeeding to an Estate),"
Agricultural Law Digest: Vol. 21
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol21/iss20/1