Just wanted to find out if attorney fees are deductible under Sch A, misc. deduction for a loan modification?
Thanks
MAS
0
Loan modification (Attorney Fees)
Started by MAS, Feb 04 2012 02:01 PM
2 replies to this topic
#2
-
- Members
-
- 614 posts
ATXaholics Anonymous
Posted 04 February 2012 - 09:59 PM
Wouldn't this fall under the same category as attorney fees for either refinance or acquisition??? I don't think you can deduct them.
#3
-
- Members
-
- 2,971 posts
ATX Supreme Guru
Posted 04 February 2012 - 11:00 PM
>>if attorney fees are deductible under Sch A, misc. deduction for a loan modification?<<
To the extent the fees can be allocated to acquiring taxable income (such as cancellation of debt) they would be deductible.
To the extent the fees can be allocated to acquiring taxable income (such as cancellation of debt) they would be deductible.
1 user(s) are reading this topic
0 members, 1 guests, 0 anonymous users
