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NYS Decoupling - Trust returns

  • 1.  NYS Decoupling - Trust returns

    Posted 02-22-2019 17:15
    Could somebody please address whether or not the NYS decoupling from the new federal law pertains solely to individual returns and not trust and estate returns.
    Obviously I'm thinking mainly about investment advisory fees (which can be substantial) and if any of them are allowed on the NY-205, since no longer on the 1041.
    I've read the TSB, (which only mentions personal returns) I've read the instructions, I've googled it to pieces and I can't find anything definitive to allow them.  I'm positive the people that read this board know the right answer.
    Help !!!!!
    Thanks, Allan

    Allan Cohen

  • 2.  RE: NYS Decoupling - Trust returns

    Silver Most Valuable Member
    Posted 02-23-2019 15:44

    Investment advisory fees are not deductible except as a misc. itemized deduction – I do not think NYS has issued guidance as to decoupling 1041's but in general Trust taxation begins at the individual level so you will need to consider how to file. 


    Very truly yours,






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