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We paid $1500 to a compny to negotiate the terms of a home loan modification (unsuccessfully). Is this fee tax-deductible?
California. Jan 21st 2010
Our Tax professional says no. That fee is similar to a legal fee for other services which also is not deductible. The tax mod company should have refunded the fee if they were not successful like most reputable companies do.
I do not believe they are, but you should really discuss with your tax accountant.
Not deductible. Also, if the company is not reputable, I would report them. Did you sign an disclosure agreement concerning their fees?
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