Can I claim lawyer fees from a commercil real estate closing on my taxes?

gillysyd Posts: 1, Reputation: 1

New Member

Mar 11, 2011, 06:05 PM

Can I claim lawyer fees from a commercil real estate closing on my taxes?

Can I claim lawyer fees from a commercil real estate closing on my taxes?

AK lawyer Posts: 12,592, Reputation: 977

Expert

Mar 11, 2011, 06:08 PM

Can you deduct them as a business expense? You would probably add them to your basis.

Add your answer here.

Check out some similar questions!

Ask real estate lawyer [ 2 Answers ]

I have entered into a "contract for deed" recently and before it could be recorded, discovered the owner of the property had a tax lien on the property. (State of Florida) What are my options?

Deduct brokerage fees, appraisal fees and other closing costs on my taxes? [ 1 Answers ]

I purchased my home in Calif in 2006 and refinances in 2007 to lower the interest rate. Can I deduct the brokerage fee, appraisal fee, flood fee, document fee, escrow fee and transfer fees? I paid all of the fees and did not include them in the refinance of my home. If I can decuct any of these...

Lawyer fees for social security claim [ 6 Answers ]

In a letter I have from my sons lawyer it states that he is entitled to the lesser of 25 percent of past due benefits or the dollar amount established pursuant to section 206of the social security act which is 5,300 as a fee. I thought the lawyer said a small fee if he wins,do you think this is...

P.O.C. Or Paid Outside of Closing (real estate) [ 4 Answers ]

I am starting the process for buying a home and I was wondering what payment is a typically P.O.C. in the Philadelphia, PA area?

Claiming real estate attorney fees on taxes [ 1 Answers ]

Can I claim my attorney fees from a real estate attorney that I had last year. What the sisuation was that my husband and I purchased a house that was defective from the builder, but he was not going down easy to say the least. :mad: We had over a year of attorney fees and two years of fighting...