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I purchased all shares of an SCorp duirng the past year. Can I deduct the personal expences I incurred for the purchase such as legal, inspections, etc.? If so, how?

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I purchased all shares of an SCorp duirng the past year. Can I deduct the personal expences I incurred for the purchase such as legal, inspections, etc.? If so, how?

No, these expenses aren't deductible on your personal return or the S-Corp's return.

They are added to the basis of your investment in the S-Corp.

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