Discussion:Tax prep / legal fees deductible on Sched A
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Discussion Forum Index --> Basic Tax Questions --> Tax prep / legal fees deductible on Sched A
Discussion Forum Index --> Tax Questions --> Tax prep / legal fees deductible on Sched A
| April 2, 2008 | |
| Client paid CPA to complete form 3520. Would this qualify as Tax Preparation Fees?
Next, related to the foreign trust. Client is paying legal fees to be represented before the IRS concerning the trust and to avoid 6701 and related penalties. Since legal fees are generally deductible if related to income... I'm thinking these legal fees are NOT deductible. Thanks for you input. | |
| 2 April 2008 | |
| Hi,
You could claim this expenses as legal and report it on Schedule A at line#23. | |
RoyDaleOne (talk|edits) said: | 2 April 2008 |
| Does a trust file Schedule A? | |
| April 3, 2008 | |
| Checking to see what type of Foreign Trust it is. My thinking is that since the 3520 is just a reporting form that these fees are deductible to the taxpayer. The reason the IRS is coming after client is because he referred people to company that is setting up these trust. According to client that was his only involvement. | |
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