Announcement

Collapse
No announcement yet.

Legal Fees

Collapse
X
Collapse
 
  • Page of 1
  • Filter
  • Time
  • Show
Clear All
new posts
Previous template Next
    #1

    Legal Fees

    Question regarding form SSA-1099-SM

    Box 5 $16,331.20

    Box 3 Breakdown,

    Paid by check 12,515.25
    Medicare 78.20
    Attorney Fees 3,737.75

    Total 16,331.20

    Can the Attorney Fees be deducted on Schedule A Misc Deductions?

    Thanks
    Tags: None
    #2
    Legal Fees

    Yes, why not?

    Comment

      #3
      SSA and Attorney Fees

      See this link http://www.nosscr.org/tax.html

      To the extent that the SSA benefit is taxable (50%) of benefit, then you can deduct 50% of the attorney fee under Sched A, misc, subject to 2%.

      Sandy

      Comment

      Previous template Next

      Disclaimer

      Collapse

      This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

      Working...
      X