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Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
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If the origin of a claim that generated legal fees is personal, the fees are not deductible. Possible favorable treatment for legal fees includes either above-the-line deductions or adjustments to basis or selling price in a property transaction. Some taxpayers have claimed described legal fees in such a way that they directly reduce the related income.
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Treatment Of Legal Fees Incurred By Individuals, Annette M. Nellen
Annette M. Nellen
If the origin of a claim that generated legal fees is personal, the fees are not deductible. Possible favorable treatment for legal fees includes either above-the-line deductions or adjustments to basis or selling price in a property transaction. Some taxpayers have claimed described legal fees in such a way that they directly reduce the related income.