TN 14 (04-92)

POLICY

Fiduciaries, including administrators, executors, legal guardians, receivers, and trustees, ordinarily are not employees. See RS 02101.630.

Services not performed as an employee may constitute a trade or business in certain situations, i.e., if:

1. He/she is an attorney and the service is part of the law practice, or;

2. Otherwise;

   • There is a trade or business among the assets of the estate, and;

   • The fiduciary actively participates in the operation of this trade or business, and;

   • The fees of the fiduciary are related to the operation of the trade or business, or;

3. An extremely large estate requires extensive time and effort to manage.