Personal Representative Income Expenses

When calculating the amount of residual income of an estate and the amount that can be distributed to an estate, you can deduct the expenses of the personal representatives that relate to income.

A fellow practitioner mentioned that they deduct 7% as a matter of routine and that this was mentioned in some old STEP manuals. This was also apparently referred to on the notes of form 922 (Statement of Residuary Income) .

Does anyone recall this, and if so, do they still use the same 7% as a rule of thumb?

Mark Wallace
Walter Wright