1 Best answer
Accepted Solutions
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can we deduct expenses for making wills?
Legal fees are generally not deductible on a personal 1040 return.
There are three significant exceptions
· To produce or collect taxable income.
· To determine, contest, pay, or claim a refund of any tax.
· To receive tax advice and tax planning
Given the above, legal fees for creating wills are unfortunately not deductible.
1 Reply
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Can we deduct expenses for making wills?
Legal fees are generally not deductible on a personal 1040 return.
There are three significant exceptions
· To produce or collect taxable income.
· To determine, contest, pay, or claim a refund of any tax.
· To receive tax advice and tax planning
Given the above, legal fees for creating wills are unfortunately not deductible.
Still have questions?
Make a post
Or browse the Forums