Are legal fees expended in procuring a settlement for the loss of salary and retirement benefits deductible as a miscellaneous itemized deduction?
MultiRegion, United States of America
The following excerpt is from Coady v. Comm'r of Internal Revenue, 213 F.3d 1187 (9th Cir. 2000):
Id. at 1454; see also Alexander v. Internal Revenue Service, 72 F.3d 938, 944-46 (1st Cir. 1995) (holding that legal fees expended in procuring a settlement for the loss of salary and retirement benefits should be included in gross income and are deductible as a miscellaneous itemized deduction).
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