Submitted By: someone
Answered: January 4, 2019 12:51 am

I received fees for being an executor of my relative’s estate. Are these fees taxable?

Yes. Executor’s fees are taxable income. But if a taxpayer is not a professional executor, the fees are reported as miscellaneous income (not business income) and are not subject to self-employment tax.

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Tax Glossary

Roth IRA

A nondeductible contributory IRA that allows for tax-free accumulation of income. Qualifying distributions are completely tax free.

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