Where can I use the deduction for legal fees to co...
Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
TurboTax has you covered during Covid. Get the latest second stimulus info here.
cancel
Showing results for 
Search instead for 
Did you mean: 
New Member

Where can I use the deduction for legal fees to collect taxable income? turbo tax is not counting it in other/legal fees section?

 
2 Replies
Level 15

Where can I use the deduction for legal fees to collect taxable income? turbo tax is not counting it in other/legal fees section?

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. 

Anonymous
Not applicable

Where can I use the deduction for legal fees to collect taxable income? turbo tax is not counting it in other/legal fees section?

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  

Dynamic Ads
v
Privacy Settings