Legal expenses paid to recover property that was fraudulently taken out of a living trust and was supposed to go to the beneficiaries upon the death of their father would generally be considered part of the cost of the property and not deductible. This is because such expenses are related to recovering ownership of the property, which is treated as a capital expense rather than a current deductible expense.
Lee
On Jul 7, 2024, at 4:43 PM, larry gurewitz <larr...@gmail.com> wrote:Are legal fees deductible or amortized that were spent in trying to get rental property back that was fraudulently taken out of a living trust and that was supposed to go to the beneficiaries upon death of their father.
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