The article “Proposed Regulations on Administration Expenses and Excess Deductions” contained some errors or omissions that have now been corrected.

• The article originally stated that the calculation of different kinds of excess deductions was not clear, and suggested that the fiduciary should have the same discretion to allocate different kinds of deductions against income in determining the character of excess deductions that the fiduciary has in allocating deductions to different kinds of income in determining the character of distributable net income. The proposed regulations actually allow the same kind of discretion, and the article has been corrected to reflect what the regulations actually provide.
• The article originally reported that the proposed regulations would be prospective only. The preamble to the proposed regulations state that the regulations may be relied upon for tax years after 2017, so the regulations will be retroactive to that extent, and the article was corrected on 5/12/2020 to reflect that retroactive effect.
• The article has been updated to include a suggestion as to how excess deductions that are administrative expenses described in § 67(e) (and so adjustments to gross income and not itemized deductions) can be reported by beneficiaries in Part III of Schedule E.