Janitor Bob Posted February 23, 2009 Report Posted February 23, 2009 My client hired attorneys to assist in a Worker's Compensation claim. Ohio BWC settled and client received settlement of $70,000.....The funds went to him in care of his attorney. The Attorney then sent him a check for $55,000....keeping the difference of $15,000 as their fees. I know that the Workers com funds received are not taxable....but client can also deduct the $15,000.00 attorney fees on Sch A...correct? Quote
PapaJoe Posted February 23, 2009 Report Posted February 23, 2009 IIRC, costs associated with receiving non-taxable income are not deductible. Quote
Janitor Bob Posted February 23, 2009 Author Report Posted February 23, 2009 IIRC, costs associated with receiving non-taxable income are not deductible. Thanks!!...I knew that and forgot all about it...not used to dealing with non-taxable income! Quote
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