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Can I deduct legal fees for a discrimination lawsuit in which I lost and received no monetary settlement or decision?
I filed a discrimination lawsuit against my employer. However, I lost the case and received $0 settlement. I've already expended $200K and cannot afford to go to trial.
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Can I deduct legal fees for a discrimination lawsuit in which I lost and received no monetary settlement or decision?
Sorry you cannot. $200k sounds like an awful lot for legal fees. And how did you lose the case if you haven't gone to trial yet?
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Can I deduct legal fees for a discrimination lawsuit in which I lost and received no monetary settlement or decision?
Couldn't reach a settlement and I'm out of cash. My employer has deep pockets and ran out the clock on me.