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co-op to condo attorney fee

Dear Experts,

 

I have a rental unit in an multi-unit apartment building, last year it tried to convert from co-op to condo status, each owner needed to pay $$$$ to the lawyer to start the process. 

 

My question is, is the fee paid to the lawyer tax deductible? Can I deduct as expense (legal) from my rental income?

 

Thanks for the advice

Dave

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1 Reply
ThomasM125
Expert Alumni

co-op to condo attorney fee

Yes, most likely it would be deductible as an expense that is necessary and ordinary as it relates to your rental activity.

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