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New Member
posted May 31, 2019 11:40:36 PM

I sold rental property in 2014 and the buyer filed a lawsuit against us costing us $9,000 in 2016. Are our legal fees in this case tax deductible?

Again, this was once rental property.

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1 Best answer
New Member
May 31, 2019 11:40:38 PM

Yes, You are able to deduct attorney fees and other legal cost as long as the fees are related to a tax issue or to producing taxable income.

1 Replies
New Member
May 31, 2019 11:40:38 PM

Yes, You are able to deduct attorney fees and other legal cost as long as the fees are related to a tax issue or to producing taxable income.