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Returning Member
posted Jun 3, 2019 1:25:41 PM

Can I deduct legal fees to re-titile inherited property into my family trust?

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1 Best answer
Expert Alumni
Jun 3, 2019 1:25:42 PM

No, legal fees to re-title your inherited property are not deductible.

However, they can be added to the cost basis of your property, which will reduce capital gains when you eventually sell the property.

1 Replies
Expert Alumni
Jun 3, 2019 1:25:42 PM

No, legal fees to re-title your inherited property are not deductible.

However, they can be added to the cost basis of your property, which will reduce capital gains when you eventually sell the property.