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Where can I use the deduction for legal fees to collect taxable income? turbo tax is not counting it in other/legal fees section?
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June 19, 2020
8:50 AM
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Investors & landlords
That deduction was eliminated with the new 2018 tax law. Even in the "old days" it was only an itemized deduction, subject to the 2% of AGI threshold.
June 19, 2020
9:18 AM
Anonymous
Not applicable
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Investors & landlords
what type of taxable income? most types the legal fees are not deductible. but if it were to collect rents or other business income the fees would be deductible of the form the income would be reported on
June 19, 2020
11:17 AM