Press Room

December 01, 2009

The Deductibility Of Legal Expenses On Individual Tax Returns

Metropolitan Corporate Counsel, December 1, 2009
By:Marilyn Calister and Siobhan Foley

The Internal Revenue Code allows for the deduction of some legal fees on Schedules A, C or E, while disallowing others. Still other legal fees are capitalized on Schedule D. The determination of which fees are either deductible or able to be capitalized is determined by…

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