Question
Maria pays the following legal and accounting fees during the year: Legal fees in connection with ongoing operations of a trade or business $4,000 Legal
Maria pays the following legal and accounting fees during the year:
| Legal fees in connection with ongoing operations of a trade or business | $4,000 |
| Legal fees related to purchase of personal residence | 2,600 |
| Legal fees related to tax deficiency related to Schedule A itemized deductions | 500 |
| Tax return preparation fees: Allocable to preparation of Schedule C | 2,000 |
| Tax return preparation fees: Allocable to preparation of remainder of return | 2,100 |
What is the total amount of her for AGI deduction for these fees?
The answer is $6,000, but I cannot figure out how to get that. Can you please explain the steps to me.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Evidence Based Audit In General Practice
Authors: Richard Baker, Robin C. Fraser MD FRCGP, Mayur Lakhani MRCP MRCGP DCH
1st Edition
075063104X, 978-0750631044
