MaryMatt
Level 3
03-13-2025
06:32 PM
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client received ssdi distribution of 50,000 from which 6000 was deducted for attorney fees. Additionally 2000 and 23800 were for previous years. This is causing a large premium tax credit balance due. Taxable income for the year was 700. If I show the ss benefits net of the atty fees. it is reduced by over 500. Can I do this and attach a note?
Labels
Level 15
03-13-2025
09:08 PM
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are we allowed to deduct atty fees again? didnt that go away with TCJA?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
MaryMatt
Level 3
03-14-2025
11:48 AM
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I looked online and one solution was to include Atty Fees as a negative Miscellaneous Income. Main reason I am asking..
sjrcpa
Level 15
03-14-2025
01:20 PM
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How reliable/authoritative is "I looked online"?
The more I know the more I don’t know.
MaryMatt
Level 3
03-14-2025
01:34 PM
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Right. It was Turbo tax.