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New Member
posted Feb 27, 2021 7:22:13 PM

I received a 1099-MISC from a lawsuit settlement. Can I deduct the attorney fees and if so, do report as a negative amount?

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1 Replies
Level 15
Feb 27, 2021 7:27:56 PM

Legal expenses for your business can be a business deduction.

 

Personal legal expenses are not deductible unless it was a discrimination  lawsuit.