Incredible What Legal Fees Are Tax Deductible In 2020 References

Incredible What Legal Fees Are Tax Deductible In 2020 References. Fees related to nonbusiness tax issues or tax advice. Where the fees exceed $10,000 and are related to capital, no deduction is allowed.

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Of course if the fees are under $10,000 then this test is not relevant. Most personal legal fees are not deductible other nondeductible expenses include anything related to child custody, personal injury lawsuits, changing your name, legal defense for civil or criminal cases, or a divorce settlement. If your inquiry relates to a legal matter and you are not already a current client of the firm, please do not transmit any confidential information to us.

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