Legal Fees I was an independent contractor for an insurance broker in 2012 and only received 1099 commission income, I filed a schedule C.
Then I left and went to work for another broker on an employee ie: salary + Commission basis. Several months after leaving the first broker a lawsuit was filed against me. The case is still pending, set for trial next month. I have about 45,000 (and incurring more) in legal fees.
I no longer file a schedule C.
Because this action was taken against my business, can these fees be deducted on a schedule C for the years incurred?
TIA |