Solved
Legal expenses
I received a settlement from a former employer for my Employee Stock Ownership Program. Since I rolled it into a qualified IRA are the legal fees tax deductible?
Generally, legal fees for claims against an employer are deductible. To enter your qualifying legal fees:
- In your open Federal return, choose the tab for Wages & Income
- Scroll down to Less Common Income and Show more
- Start/Revisit Miscellaneous Income and choose Other reportable income
- Say Yes to continue to the screen "Other Taxable Income". Enter the description "Qualifying Legal Fees" and the amount as a negative number.
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