I had expenses associated with a business valuation but did not buy the business. Can I deduct these expenses?

[gehinious · Accepted solution]

I am not a CPA, but, if the valuation was to purchase the business for investment purposes, then it should qualify as an investment expense.  Just as you can deduct expenses for investment portfolio advice, etc., the appraisal helped you to determine if the business was a wise investment choice.  In the case, you decided based on the appraisal that it was not a wise investment choice.