Anonymous
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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?
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May 31, 2019
9:58 PM