Ask Experts Questions for FREE Help !
Ask
    ejl1000's Avatar
    ejl1000 Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 24, 2008, 04:38 PM
    Legal expenses as business deduction
    I had a rental property business 10 years ago structured as a limited partnership which was dissolved 7 years ago. I am now being sued personally for alleged medical problems due to lead paint poisoning from a prior tenant. How can I now claim a business-related deduction for these legal expenses? Thank you.
    IntlTax's Avatar
    IntlTax Posts: 831, Reputation: 23
    Tax Expert
     
    #2

    Feb 26, 2008, 08:13 PM
    I am not sure. I would have to research this. However you may be able to deduct them on schedule E, which is where the income from the rental property would have been.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Travel expenses deduction F1 to H1B [ 4 Answers ]

I was doing my OPT during 2005, until June 30 when my F1 visa expired. The employer sponsored me and I had to go back home in July to get my H1B and returned to the US on October 1st, to start working again. Can I deduct the airfare for going back home and get my visa? Can I deduct some visa fees...

H1B visa expenses and tax deduction [ 3 Answers ]

I am staying in US for over 5 years. Hi I worked for a start up company in 2007 on H1B. I had to pay the lawyer fee for the H1B processing and the same got repeated for the University that I am working for later on during the year. I also went to India for H1B stamping. The question is:...

Relocation expenses deduction [ 2 Answers ]

Hi, I moved from MA to CA for a new job in 2006. I was on H1 whole of 2006 and will be filing as a resident. My employer gave me 3000$ as relocation assistance, which is not shown on my W2. However on my salary slip it says I was given $5000 and after tax, I guess, it became $3000. Can I claim...

Job Expenses deduction for Non Resident Alien [ 1 Answers ]

Hi, I am on a 6 month assignment to US and am filing my taxes as Non resident alien for 2007wanted to know whether I can claim deductions on the rent/utilities/conveyance/food expenses I incurreed while I was in US. Is Form 2106 applicable to me or only for people travelling inside US on work?...

Eligible for First Choice and Education Expenses deduction? [ 8 Answers ]

Hi, My wife and I got married this year. My wife has been on F-1 student status since Aug.2002(She left the US for 6 months in early 2004 and came back in Aug.2004 to continue her study at another university). Given she has been on F1 more than 5 years(2002,2003,2004,2005,2006,2007), if she is...


View more questions Search