Thanks for asking your question! I'm sorry to hear about your tax
issue and I'm going to try my best to help you understand or resolve it.
Thank you for your question, and thanks for using Justanswer.com. Unfortunately, you can only deduct legal fees that generate taxable income
. So, in your case the bankruptcy did not result in the recognition of income
therefore your expense of legal fees would not be deductible
I'm truly sorry if this is not what you had hoped to hear. However, I have a duty to inform you of the tax code as it stands. Please don't shoot the messenger! Our ratings reflect on us
personally, and our ability to help customers on the site.
Thanks again for using JustAnswer.com and have a great day.
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You should be aware that your question, as with most tax questions, can never really be answered completely...addressing all the permutations; that is because of the many assumptions that have to be made I have done my best to determine what I think you are asking and answering it in the most direct and understandable manner possible. If, however, after reviewing the questions, you have any uncertainties or further questions, please do not hesitate to ask.