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Are legal fees for setting up a trust deductible? I set up a…

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Are legal fees for...

Are legal fees for setting up a trust deductible?

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I set up a living trust in 2017 and want to know if the related fees the lawyer charged are tax deductible.

Submitted: 4 months ago.Category: Tax
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3/13/2018
Tax Professional: Robin D., Senior Tax Advisor 4 replied 4 months ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 18,183
Experience: 15years with H & R Block. Divisional leader, Instructor
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 4 months ago

The fees you pay to set up a trust are generally considered personal expenses, which are not deductible for tax purposes. If you received advice about taxes or tax planning in relation to the trust then that amount of the fee would be allowed. You would need , if audited, to be able to show an itemized bill that lists the advise separately.

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