government






 

Question by  PaulMBudd (7)

Are the fees paid to a bankruptcy attorney deductible at tax time?

 
+6

Answer by  Att4372 (1704)

If this is a business bankruptcy, you can deduct legal expenses on Schedule C. If the bankruptcy is due to Federal tax liability, you can deduct these as "other" expenses on Schedule A. If it's a personal bankruptcy, it's a NON-deductible personal expense.

 
+5

Answer by  dialfoust (220)

You are entitled to deduct legal expenses that you have paid throughout the year so I do not see why you would not be able to.

 
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