I brought a law suit against my employer for unpaid accured vacation pay in 2017. The case will not be settled until 2018. I have legal fees in both 2017 and 2018. I have not settlement from the emplyer yet. Can I deduct the legal fees in 2017 before the case is settled. If settled, can I deduct the 2017 legal fees in 2018?
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Yes, legal fees to produce taxable income are deductible as miscellaneous expenses in the year that you pay them.
Yes, legal fees to produce taxable income are deductible as miscellaneous expenses in the year that you pay them.
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