Are these Fees Tax Deductible?

[Chris Coleman]

I own several RE Rentals deeded in a Revocable Living Trust (my wife and I as Trustees). I also own several Notes and other investment assets in a Holding Company LLC.

I also own an Operating/Service Company (which is a Partnership LLC) that provides all the financial and administrative management services for both the RE Rentals in the Trust and the Notes/Investments in the Holding Company. These services include all the bookkeeping, taxes, correspondence with insurance, banks, lawyers, agents/brokers, property managers, HOA's, mortgage companies, etc.

For managing all these financial and administrative services, I as Trustee of the Trust pay a monthly fee to the Operating/Service Company.  My Holding Company also pays a monthly fee to the Operating/Service Company for the same.

My question is about the fee paid from me as Trustee to the Operating/Service Company...is that fee a tax deductible expense for the RE Rentals (e.g., similar to property management or professional fees)?  OR...would it only be deductible on my Schedule A, since I own the Rentals in my Trust, and thus subject to the 2% AGI rule?   

OR...is there something totally different that I'm not asking/considering here?

Thanks