Facts: Your client, Justin Pauly, is employed as a car salesman. Justins aunt, Marge Simmons, recently died, and her last will and testa-ment provided for the creation of the Marge Simmons Trust (the Trust). Most of Marges assets were sold, and the proceeds (approximately $2 million) were transferred to the Trust. The principal and income of the Trust are pay-able to Marges eight nieces and nephews at set intervals. Marges will named Justin as the sole trustee of the trust. Justin wants to invest the assets of the Trust to earn a fair amount of income, but he has very little personal invest-ment experience. As a result, Justin hired Sally Cookson, a well-respected professional investment adviser, to advise Justin on how to invest the Trusts assets. You will be meeting with Justin next week and know that he will be asking you whether there are any limitations on the deductibility of the investment advice fees the Trust is paying to Sally.

Required: Is there any authority indicating whether the Trust can deduct the investment advice fees it is paying to Sally? Please provide the relevant Code section(s), regulation(s), cases, and/or rulings.