The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Legal expenses on the private sale of stock||Date: 3/21/2013 2:48 PM|
|Author: joelcorley||Number: 118101 of 121061|
While I wasn't really expecting an answer in my favor ... or expert advice one way or another, I was hoping someone might be willing to express some kind of opinion - even if it's to just call me crazy for asking.
At this point I'm assuming I can't deduct these legal expenses from the sale price - even though that would be logical. After all, you often can't apply logic to the IRS.
What is frustrating here is that when in doubt (and the amount isn't too significant), the default action seems to be to just pay up. I was hoping someone would either confirm that they thought paying it was the right thing to do ... or that I might be on the right track with treating it as a selling expense and should talk to a CPA again.
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