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emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 2995
Experience:  IRS licensed Enrolled Agent and tax instructor
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I am a music arranger and file under my name but do have

Customer Question

I am a music arranger and file under my name but do have deductions for business related expenses. I was recently - 2014 and 2015 - sued over a disputed of copyright for an arrangement which I had written. I read that if the litigation was business related that I can file the expenses as a deduction. If so, is this also retroactive for the previous year - 2014 - when I part of the expense was incurred? Finally, any additional advice regarding the matter would be greatly appreciated. David
Submitted: 1 year ago.
Category: Tax
Expert:  emc011075 replied 1 year ago.

Hi, David. My name is ***** ***** I will be happy to help you.

You are correct. If the litigation was business related than it is deductible. The fees are deducted in the year you paid them. Fees paid in 2014 will be deducted on your 2014 return and fees paid in 2015 will be deducted on your 2015 return. How is your business structured? Is it sole proprietor or corporation?

Expert:  emc011075 replied 1 year ago.

I see you read my respond. Do you have any questions? Is there anything else I can help you with today? \

And if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.