BobKamman
Level 15
04-08-2024
05:00 AM
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If I still owned the building, the legal fees could probably be claimed on Schedule E. But if I never owned or rented the building myself -- it was sold by an irrevocable trust, of which I was the beneficiary -- then two years later I would be looking at strictly personal expenses. The mistake was distributing the funds when the trust still had exposure to claims. Bad advice then does not lead to a deduction for good advice needed now.