January 18, 2020 6:52 AM
last updated January 18, 2020 6:52 AM
I made a loan to an individual who defaulted. I took the case to court and won a judgement against that individual who then filed for bankruptcy. I have legal and other expenses from the bankruptcy court hearings. The bankruptcy judge ruled against me and relieved the individual of the obligation to repay the loan. Since the case was heard out of state I had travel costs associated with appearing in the case as a witness. Are any of these costs deductible and if so where do I report them?
January 18, 2020 10:02 AM
No. Legal fees are not deductible on your federal return.
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
January 21, 2020 4:58 AM
Found what you need?Start my taxes
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