The AICPA has produced guidance for members preparing 2007 fiduciary income tax returns, in keeping with the recent holding of the U.S. Supreme Court in Knight v. Commissioner . The case (101 AFTR2d 2008-380) affirmed that investment advisory fees of estates and nongrantor trusts generally are subject to the 2% of adjusted gross income floor as miscellaneous itemized deductions, except to the extent they are incremental to or different from what an ordinary individual would commonly incur (see “Tax Matters: Supreme Court Upholds Trust Expense Floor ,” JofA , March 08, page 73). The guidance, prepared by the Section 67(e) Task Force of the AICPA’s Trust, Estate and Gift Tax Technical Resource Panel, addresses such questions as the ruling’s application to investment advisory fees, trustee fees, tax return preparation fees and other costs, as well as substantiation requirements for treatment of items. The guidance may be downloaded here . Other case materials and commentary are available at http://tax.aicpa.org/Resources/Trust+Estate+and+Gift/Trusts .