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    #1

    Legal Fees

    Are legal fees to improve upon payment of an Oil Lease deductible?
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    #2
    Originally posted by BillV View Post
    Are legal fees to improve upon payment of an Oil Lease deductible?
    What means "improve upon payment"?
    Maybe to negotiate a new lease on better payment terms?
    ChEAr$,
    Harlan Lunsford, EA n LA

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      #3
      Legal Fees

      Yes, to obtain better terms and money.

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        #4
        Normal Sch E item

        Legal fees are one of the enumerated expenses on the first page of Sch E and I would think these would be the same as any others.

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          #5
          Originally posted by BillV View Post
          Yes, to obtain better terms and money.
          Then the legal fees bear a proximate cause to collection of income and are therefore deductible.
          ChEAr$,
          Harlan Lunsford, EA n LA

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