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Old 06-30-2003, 12:57 PM
tgitom
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lawyer fee's?

What is the name of your state? NY

Are lawyer fee's able to be deducted from the settlement amount won? There fee's or any compensation they recieve, can that be tax deductable?
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Old 06-30-2003, 07:32 PM
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Location: Washington
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Attorney fees are only deductible if the settlement is taxable AND the gross settlement amount is reported to the IRS as income. If the net is reported, the fees are not deductible.
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