ILLMAS Posted February 4, 2012 Report Posted February 4, 2012 Just wanted to find out if attorney fees are deductible under Sch A, misc. deduction for a loan modification? Thanks MAS Quote
Terry D EA Posted February 5, 2012 Report Posted February 5, 2012 Wouldn't this fall under the same category as attorney fees for either refinance or acquisition??? I don't think you can deduct them. Quote
jainen Posted February 5, 2012 Report Posted February 5, 2012 >>if attorney fees are deductible under Sch A, misc. deduction for a loan modification?<< To the extent the fees can be allocated to acquiring taxable income (such as cancellation of debt) they would be deductible. Quote
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