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You can usually deduct legal expenses that you incur while attempting to produce or collect taxable income or that you pay in connection with the determination, collection, or refund of any tax. Also you must remember that Legal Fees are an Itemized Deduction in Schedule A. This means that if the sum of deductions in Schedule A does not exceed the amount of your Standard Deduction these deductions will not be beneficial to your Tax Return.
You can also deduct legal expenses that are:
To Enter you Legal Fees follow the instructions below:
TurboTax will make the comparison for you and let you know if an Itemized Deduction or a Standard Deduction benefits you the most. Additionally, for your information, I have included a Checklist of common Itemized Deductions to help you find as many deductions as possible therefore increasing the likelihood of exceeding the Standard Deduction and producing a better Return.
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