Treatment of Legal Fees Incurred by IndividualsThe Tax Adviser (2007)
AbstractIf 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.
Publication DateOctober, 2007
Citation InformationAnnette M. Nellen. "Treatment of Legal Fees Incurred by Individuals" The Tax Adviser Vol. 38 Iss. 10 (2007)
Available at: http://works.bepress.com/annette_nellen/19/