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.

advertisement
Tax Glossary

Tax-sheltered annuity

A type of retirement annuity offered to employees of charitable organizations and educational systems, generally funded by employee salary-reduction contributions.

More terms