are any of the fee's that an individual filing chapter 7 bk incurrs tax deductible?
are my attorney fee's deductible for 2009 taxes?
are my attorney fee's deductible for 2009 taxes?
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9/22/2009 - officially filed chapter 7
11/03/2009 - scheduled 341
- COMPLETED
01/04/2010 - last day for objections
01/11/2010 - DISCHARGED & CLOSED
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Not if you are filing a personal bankruptcy.Well, I did. Every one of 'em. Mostly I remember the last one. The wild finish. A guy standing on a station platform in the rain with a comical look in his face because his insides have been kicked out. -Rick -
no- fees are not deductable.Originally posted by drowningNdebt View Post
I believe the only legal fees that can be deducted are ones that are incurred in relation to your business.
Defintely not BK related whatsoever..Filed Pro Se: 10/16/2009
341 Scheduled: 11/23/2009
Last Day for Objections: 1/22/2010
Discharged: 1/28/2010Comment
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What if you are trying to strip off a second mortgage lien, or settle a second mortgage for pennies on the dollar? This would reduce itemized deductions and therefore increase taxable income.
From IRS Publication 529:
You can usually deduct legal expenses that you incur in attempting to produce or collect taxable income or that you pay in connection with the determination, collection, or refund of any tax.Last edited by iv65536; 01-13-2010, 04:19 AM.C7 Filed: 2009-11-06
| 341: 2009-12-14: | DISCHARGED: 2010-02-09
Condo: Walked away due to 2nd mortgage intransigence; 1st foreclosed. Now totally DEBT FREE!!Comment
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