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Discussion Forum Index --> Tax Questions --> Prenuptuial Agreement-Legal Expenses
Caryncpa (talk|edits) said:
| 24 April 2007
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| My client drafted a prenuptuial agreement which he never used, but paid a lot of money. Can this be deducted as a miscellaneous itemized deduction subject to the 2%?
Thanks
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1040man (talk|edits) said:
| 27 April 2007
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| This is a personal expense. Therefore NO deduction. Uncle Sam hates to pay for setting up a marriage unless he is part of the honeymoon.
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Bengoshi (talk|edits) said:
| 27 April 2007
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| Perhaps if there was tax planning involved and if attorney separately stated the fee relating to tax planning, taxpayer might have a plausible argument for taking a misc itemized deduction.
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Taxea (talk|edits) said:
| 28 April 2007
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| Bengoshi is correct. Ask the atty to provide the amount of the bill that was for retention of income. This is the deductible portion. taxea
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EA-Taxgal (talk|edits) said:
| 28 April 2007
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| It will never hold up in an audit, however, if on the same visit to the attorney a separate issue arose which pertained to tax planning, then this portion would be deductible. Just drafting a prenup is definately a personal expense.
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