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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121219  
Subject: Re: Earned Income/IRA Date: 4/10/1999 1:11 AM
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[[You then should file a Schedule C as a "Fiduciary"
business and deduct all your phone calls to beneficiaries, postage,
computer, software, travel to the lawyer's office and if it warrents it to visit
in person with the beneficiaries. Also entitled to Self Employed Health
Insurance deduction line 28 Form 1040. The possibilities are endless?
And YES, you owe Self Employed Soc Sec also, but get a credit for 1/2 of it
on 1040 line 27.]]

Unless this is your business, I wouldn't agree that a Sch C would be appropriate.

As noted in my original post, Administration fees are specifically exempt from SE taxes. Why make life more complicated. You can still take any and all administrative expenses as a miscellaneous itemized deduction and STILL not incurr SE taxes.

A Sch C implies a trade or business. Admin. fees are generally not trade or business income unless you are a pro and do that work for a living.

TMF Taxes
Roy
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