Advertisement The U.S. Tax Court recently issued a taxpayer favorable opinion regarding how a trust materially participates in its activities. The court’s holding will make it easier for trusts to currently deduct expenses against non-passive income and to exclude income from the reach of the new 3.8% net investment income tax. Advertisement In Frank Aragona Trust … Continue reading U.S. Tax Court Rejects Internal Revenue Service's (IRS) Restrictive View of Trust Material Participation