Anonymous
Not applicable

I received a 1099 from a brokerage firm to settle certain investment losses. Can I deduct the related legal fees I spent to get to settlement?

I lost about $80k in unsuitable investments and initiated a FINRA action.  I was awarded $35k in compensation (for which I received a 1099), but my lawyer took about half of it, netting me only about $18k.  Can I deduct the $17k in legal expenses?