Managed uncle's (nonresident alien) Canada bank interest account with his power of attorney for 12 years. All deposits made by wife's mother who deceased without revealing if funds were her's or uncles and we assumed funds were her's with uncle her nominee. Before mother's death, per her written instructions,we removed a portion of deposits and purchased shares and other 'income producing properties' in our name. Uncle brought Canada legal action and we paid cash settlement 'to protect our properties held for earning income'. Setttlement Agreement stated the pymt to be only, "damages for breach of fiduciary duty". Would such settlement payment and legal fees be deductible under Sch A. line 22?
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