I have a non-business bad debt note and a default judgement for the entire debt. Can collection costs such attorney cost be added to the cost basis on form 8949?
01498
1 Replies
smarttees
Level 5
Dec 28, 2019 3:36:07 PM
it's a short term cap loss and you can't add costs to the basis to create a larger loss.....used to be able to deduct those costs as misc itemized deductions on Sch A but not after tax reform.