Can I deduct my loss and lawyer fees?
I have a consent judgment against my home builder which they agreed to. Since the judgment they filed chapter 7. I get nothing. Can I deduct my loss lawyer fees on my taxes?
Attorney Answer
1
Erik Fisk ·
For suit on a personal residence? Probably not, if it was a typical construction defect case. Maybe if it was more of a casualty/loss issue. If it's a rental or business property, it's more likely.
May be worth running by your tax advisor. Firm answers need firm facts.
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